A NEW JEEP is delivered to a dealership in Pittsburgh on Jan. 23. On Friday, the Commerce Department issues its December report on consumer spending. The Federal Reserve’s preferred inflation gauge eased further in December, and consumer spending fell — the latest evidence that the Fed’s series of interest rate hikes are slowing the economy. / ASSOCIATED PRESS PHOTO / GENE J. PUSKAR
WASHINGTON (AP) – The Federal Reserve's preferred inflation gauge eased further in December, and consumer spending fell — the latest evidence that the Fed's series of interest rate hikes are slowing the economy. Friday's report from the Commerce Department showed that prices rose 5% last month from a year earlier, down from a 5.5% year-over-year…
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