Spending adjusted for inflation dipped 0.4 percent, a potentially worrisome sign about consumers’ ability to keep up with an inflation rate still far above 2 percent.
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With Melanie Zanona, Sarah Ferris, Marianne Levine and Kyle Cheney.
SMILE LIKE YOU (WAYS AND) MEANS IT: Who will write the GOP’s next tax cut bill? The fight is already underway and Rep. Kevin Brady (R-Texas) just announced his retirement. Behind the scenes, potential contenders have already started to make calls and set up meetings in an effort to woo members who will decide which lawmaker will get the top GOP spot on the powerful House Ways and Means Committee.