Limited flexibility exchange rate system

US consumer spending is on the rise; inflation erodes household purchasing power, Retail News, ET Retail

WASHINGTON: US consumer spending surged in August, but inflation-adjusted spending was weaker than initially thought the month before, reinforcing expectations of slower economic growth in Q3 then that COVID-19 infections were on the rise. Friday’s Commerce Department report, which showed inflation to remain high in August, increased the risk of …

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