US personal consumption increased at the slowest pace since 2021. Inflation and consumer spending readings were in line with economists' expectations.
Service price levels, which include housing and health care, remain at the heart of the US Central Bank's fight against inflation. The US Monetary Policy Committee said in the minutes of its last meeting in January that it is in no hurry to start cutting interest rates.. American stock market indices rose collectively, as the Dow Jones Industrial Average. rose 0.1% to 38,953 points, the Nasdaq index rose. 0.47% to 16,022 points, and the broader Standard & Poor's 500 index. rose.