Fed Dodges Bullet In ‘Could’ve Been Worse’ Inflation Report

Personal spending was stronger than expected last month and core inflation remained stubborn, the last of this week's top-tier data out of the US economy showed. Traders were on edge. The advance read on Q1 GDP was accompanied by a big overshoot on the core price index. There was palpable concern about the read-through for March PCE. In that context, you could argue Friday's personal income and spending report could've been worse. The MoM core PCE print was an as-expected 0.3% -- 0.31675% unro