Fed’s emergency loans to banks fall in sign of easing turmoil. Banks reduced their borrowings from two Federal Reserve backstop lending facilities in the most recent week, a sign that liquidity demand may be stabilizing.* US institutions had a combined $152.6 billion in outstanding borrowings in the week through March 29, compared with $163.9 billion the previous week.
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Consumer spending growth slowed and core inflation eased in February. Households boosted their spending by a seasonally adjusted 0.2% in February from the prior month, the Commerce Department said Friday. That followed a revised 2% increase in January, but economists said the two months viewed together represented a solid gain* as 2023 got underway.
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