When it comes to interest rates falling, eventually that has to involve the Federal Reserve. The central bank, as its top officials keep saying, look at data. Maybe the most important for them is personal incomes and outlays from the Bureau of Economic Analysis. The immediate good news is that things came in as expected, compared to the median forecast of economists that the Wall Street Journal polled.

“Personal income increased $233.7 billion (1.0 percent at a monthly rate) in January, according to estimates released today by the Bureau of Economic Analysis,” they wrote. “Disposable personal income (DPI), personal income less personal current taxes, increased $67.6 billion (0.3 percent) and personal consumption expenditures (PCE) increased $43.9 billion (0.2 percent).

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Erik Sherman

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