U.S. March consumer spending picks up as core inflation cools

UNITED STATES purchases increased 0.9 percent in March. / BLOOMBERG FILE PHOTO/ARIANA LINDQUIST
UNITED STATES purchases increased 0.9 percent in March. / BLOOMBERG FILE PHOTO/ARIANA LINDQUIST
NEW YORK - United States consumer spending rebounded in March while the Federal Reserve's preferred underlying inflation gauge eased to a one-year low, reinforcing the central bank's patient stance on interest rates even as the economy's main engine holds up. Purchases, which make up more than two-thirds of the economy, rose 0.9% in March from…

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