Resilient Consumer Spending Validates Fed Policy Stance

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Resilient Consumer Spending Validates Fed Policy Stance

06/15/2023

Retail sales came in stronger-than-expected in May, supporting yesterday’s announcement that the Fed expects to tighten by another 50 basis points in the coming months. The total value of retail sales last month rose +0.3%, well above the -0.2% median forecast and just below the +0.4% April gain.

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