Consumer spending showed a decent gain but was down from Q1
The Federal Reserve will likely welcome Tuesday's data
The downturn in spending showed up in the earnings reports of many high-profile retailers
Narrowing bond spreads signal confidence in borrowers, economy
Reiterates the central bank's determination to keep its benchmark rate elevated until inflation falls to 2% target
The shortage of homes for sale has kept the market competitive
But higher interest rates are weighing on economic activities dependent on credit
By all measures, inflation has cooled over the past year, moving closer to the Fed’s 2% target level but still remaining persistently above it
Thursday's report is the first of two CPI numbers Fed policymakers will see before their next meeting
Outside tech layoffs early this year, companies have mostly been retaining workers