Surprising resilience continues amid tighter monetary policy
The U.S. Labor Department also finds that wage gains are easing, a trend that may signal cooling inflation pressures
Consumer spending showed a decent gain but was down from Q1
By all measures, inflation has cooled over the past year, moving closer to the Fed's 2% target level but still remaining persistently above it
Thursday's report is the first of two CPI numbers Fed policymakers will see before their next meeting
A burst of business investment drove last quarter's surprising GDP figure
The index fell from mid-2021 to mid-2022 as surging prices ate into household budgets
The job market's sturdiness has raised doubts about whether a downturn is inevitable
Consumers continue to spend despite rising borrowing costs
The agency forecasts global growth of 2.1% this year, down from 3.1% in 2022