U.S. consumers shrug off high inflation, lean on savings to boost spending


WASHINGTON, April 29 (Reuters) - U.S. consumer spending rose more than expected in March amid strong demand for services, while monthly inflation surged by the most in 16-1/2 years, giving the Federal Reserve ammunition to hike interest rates by a hefty 50 basis points next week. The case for an aggressive monetary policy stance from the U.S. central bank was also strengthened by other data on Fr...

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