US consumers pulling back spending; inflation slowing for now
- PCE for April recorded +0.1%(MoM), +2.1%(YoY)
- Consumer spending, which accounts for more than two-thirds of economic activity, rose 0.2% last month after an unrevised 0.7% jump in March
- households opting to boost savings amid mounting economic uncertainty because of a constantly changing tariff landscape
- A U.S. trade court on Wednesday blocked most of Trump's import duties from going into effect in a sweeping ruling that the president overstepped his authority. They were, however, temporarily reinstated by a federal appeals court on Thursday, adding another layer of uncertainty over the economy's outlook.
- Minutes from the May FOMC reveals that participants judged that downside risks to employment and economic activity and upside risks to inflation had risen, primarily reflecting the potential effects of tariff increases
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USD/JPY exchange rate: 144.06엔
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DXY: 99.33
US Treasury 30Y yield: 4.923%
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