US PCE Inflation Eases, Personal Spending Falls in Dec.

The video discusses recent economic data, highlighting a slight increase in inflation and core rates, which aligns with expectations. Personal income rose slightly, while spending decreased, matching forecasts. The Fed is making progress in controlling inflation. Consumer spending showed a decline in November and December, indicating a slowing trend, despite an increase in October. These changes did not significantly impact GDP due to its quarterly reporting nature.

What was the change in the core rate mentioned in the text?

What was the inflation rate change from 4.7% to what percentage?

What does the text imply about the Fed's progress in its inflation fight?

How did personal incomes change according to the report?

What does the text suggest about consumer spending in the months of November and December?