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US personal income rose 0.4% in March vs. 0.3% increase expected
U.S. inflation barely rose in March as consumer spending remained tepid, making it less likely that the Federal Reserve will be able to hike interest rates twice this year. The Commerce Department said on Friday the personal consumption expenditures (PCE) price index, excluding the volatile food and energy components, edged up 0.1 percent last month after an upwardly revised 0.2 percent increase in February. Last month's gain in the so-called PCE was in line with economists' expectations. In the 12 months through March the core PCE rose 1.6 percent after advancing 1.7 percent in February. The core PCE is the Fed's ... (full story)