Rate Hikes Up In The Air Thanks To New Economic Data
Mixed economic indicators released this week may stall the Federal Reserve’s plans for another round of aggressive rate hikes.
Retail sales fell 0.4% in February as consumers strained under high inflation, Commerce Department data released Wednesday showed. Spending fell in eight of the thirteen groups analyzed, with furniture and department stores seeing the biggest dips.
Bar and restaurants saw sales fall by 2.2%, the most in more than a year.
But a surprise decline in producer prices provided a glimmer of hope that inflation may be cooling. Wholesale prices were down 0.1%, upending the Dow Jones prediction of a 0.3% increase. The index still increased YOY, but by less than expected.
Both of these reports come just a day after…
