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Story summary
- Rising gas prices from the Middle East conflict made energy purchases 42% of March’s consumer-spending gain.
- Core inflation, excluding food and energy, rose 3.2% YoY in March.
- Disposable income fell 0.1% after inflation adjustment, a second monthly decline that cut the personal saving rate to 3.6%.
- Federal Reserve (Fed) Chair Jerome Powell said the economy remains resilient as the Fed kept interest rates unchanged.
