US consumer spending rises in November; monthly inflation subsides

U.S. consumer spending rose 0.4% in November, bolstering the economy and influencing the Federal Reserve's interest rate projections. This strength, fueled by robust job growth and healthy household finances, contributed to a 3.1% GDP growth in Q3. While the Fed cut rates, it anticipates fewer reductions in 2025 than previously predicted, citing the economy's resilience and persistent inflation.