President Trump Scores Another Economic Victory

Consumer spending increased by the most in more than 9-1/2 years in March, but price pressures remained muted, with a key inflation measure posting its smallest annual gain in 14 months.

The surge in consumer spending reported by the Commerce Department on Monday sets a stronger base for growth in consumption heading into the second quarter after it slowed sharply in the first three months of the year. Tame inflation, however, supports the Federal Reserve’s recent decision to suspend further interest rate increases this year.

Fed officials are scheduled to meet on Tuesday and Wednesday to assess the economy and deliberate on the future course of monetary policy. The U.S. central bank in March dropped forecasts for any interest rate increases this year, halting a three-year policy tightening campaign. The Fed raised borrowing costs four times in 2018.

CNN

✔@CNN

The US economy grew at a rate much better than expected in the first quarter of 2019, the Commerce Department reports.@AlisonKosik explains why: https://cnn.it/2VwvcLW 

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9:02 AM - Apr 26, 2019

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Consumer spending, which accounts for more than two-thirds of U.S. economic activity, surged 0.9 percent as households stepped up purchases of motor vehicles and spent more on healthcare. Consumer spending edged up 0.1 percent in February. Data for January was revised up to show...

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