Author: Steven Sahiounie

Adjusted for inflation both overall consumption and disposable income dropped slightly in April Price cuts by major U.S. retailers and new data showing a slowdown in consumer spending may boost the Federal Reserve’s confidence in falling inflation and take the edge off of corporate profits that have grabbed a larger share of national income since the start of the COVID-19 pandemic. Adjusted for inflation both overall consumption and disposable income dropped slightly in April. The Commerce Department had reported on Thursday that the U.S. economy grew more slowly than initially thought over the first three months of the year largely…

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