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Nick Timiraos and Austen Hufford: Inflation Firmed, Consumer Spending Jumped in January
Data could lead Federal Reserve to raise interest rates for longer. Inflation firmed and Americans’ spending and income surged in January, which could prompt the Federal Reserve to raise interest rates higher than previously anticipated this year to cool price pressures. The Fed’s preferred inflation gauge—the personal-consumption
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Posted: February 24, 2023 Friday 04:45 PM