PCE data paints a solid picture, but hidden cracks show tariffs quietly squeezing U.S. consumers—and weak job growth could put them over the edge
via bea.gov
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July’s PCE report showed consumers spending resiliently, with inflation matching expectations. But beneath the surface, there was a pullback in spending in discretionary categories—a bad sign when combined with last month’s weak job growth. On paper, the July personal income and outlays report on Friday looked solid. Personal income rose 0.4% on a monthly basis, […]