Higher rate will put Kibosh in consumption growth

If you think that Inflation is cutting American spendingjust wait and see what the higher rate will do.

The Department of Commerce on Friday reported that Consumer spending rose 0.4% in August from July, after falling 0.2% last month. However, the Commerce Department’s consumer price gauge, which is also the Federal Reserve’s preferred inflation gauge, also rose 0.3 percent in August. So real spending, or inflation-adjusted spending, increased by only 0.1%.


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