WASHINGTON — Personal consumption expenditures increased 0.2% in January as income rose 1.0%, the largest gain in 20 months, the Commerce Department reported Monday.
Core PCE, which excludes food and energy costs and is the Federal Reserve’s preferred measure of inflation, increased 0.8% in January from a year earlier and was revised higher for December to 0.8% from 0.7%.
The figure is still a record low on data stretching back to 1960.
Next year, the "muni market could see stable to improving returns depending on yield curve positioning, with better performance possible at the long end of the curve," said Jonathan Rocafort, managing director and head of fixed income solutions at Parametric.
The state paused recently approved transportation taxes after a Republican-led campaign to reverse them delivered signatures for a ballot measure.
It is one of several P3-related recommendations the board made to Transportation Secretary Sean Duffy.
The city council president hopes the panel will override the mayor's veto of the budget this week.
Federal Reserve Gov. Stephen Miran said higher goods prices could be the trade-off for bolstering national security and addressing geo-economic risks.
"The steps that would be necessary to restore a sound fiscal profile are becoming increasingly drastic," the rating agency said in downgrading Jersey City.
