CONSUMER SPENDING STRONG IN DECEMBER

U.S. prices rose in December, keeping the annual increase in inflation below 3% for a third straight month, it will bolster expectations that the Federal Reserve will start cutting interest rates this year.

The Commerce Department on Friday also showed consumer spending surging at the end of 2023 as Americans splurged over the holidays. In March, financial markets have pushed the odds of a rate cut below 50%. The U.S. central bank is expected to keep its policy rate unchanged, the inflation trajectory is improving.

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