Fed’s Favorite Inflation Signal Near 40-Year Highs

Both income and spending were expected to rise in April (with Americans spending more than they earn once again — as we already have seen hints of from the record surge in credit card use). And as expected spending soared (+0.9% MoM vs +0.8% exp) while incomes grew only modestly (+0.4% MoM vs +0.5% exp)…

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