U.S. July Consumer Spending and Inflation Rise Together, but Weak Jobs Data May Pave the Way for Fed Rate Cut
By: theblockbeats.news|2025/08/29 13:22:32
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BlockBeats News, August 29th: U.S. consumer spending in July showed a solid increase, while the core PCE experienced a slight uptick due to the higher prices of some goods caused by import tariffs. However, against the backdrop of softening labor market conditions, these data may not deter the Fed from cutting interest rates next month. The low unemployment rate is supporting steady wage growth, providing support for consumption.
However, President Trump's imposition of tariffs on imported goods is increasing business costs, exacerbating corporate caution and leading employers to be reluctant to increase hiring. Government reports this month showed that over the past three months leading up to July, employment has been increasing by an average of 35,000 people per month, compared to 123,000 people during the same period in 2024. (FXStreet)
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