Market Wire: Inflation and Growth Prints Keep North American Central Banks On Course
American households kept spending last month and the Federal Reserve’s preferred inflation measure maintained its momentum, keeping the central bank on track toward a 75 basis point hike at next week’s meeting. Data released by the Bureau of Economic Analysis this morning showed inflation-adjusted household outlays climbing 0.3 percent in September, with services spending decelerating relative to August, while vehicle and drug purchases lifted the tangible goods sector. Personal income rose 0.4 percent month-over-month, led by a 0.6 percent increase in private sector wages and salaries. The core personal consumption expenditures index – targeted by the Federal Reserve – rose...