Retail sales rise better-than-expected 1.2% in August
Retail sales grew by 1.2% in August, surpassing expectations and signaling resilient consumer spending. This increase occurs as the Federal Reserve is widely anticipated to raise short-term interest rates this Wednesday for the first time in three years. The central bank's expected move aims to address persistently high inflation within the economy.
The strong spending report comes as the Federal Reserve is widely expected to lift its short-term interest rate Wednesday for the first time in three years to fight stubbornly high inflation.
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Group plans to be largely out of commission for several weeks.
President Trump offered a fiery response to the Federal Reserve’s decision to hike interest rates on Wednesday, demanding instead that rates be drastically lowered quickly. "Interest Rates in the United States should be 1%, or less, because we are the Best Credit in the World — BY FAR. Our Country is BOOMING with new Investment!”...
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