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Did The American Consumer Just Fold?
Bad news. Or good news, depending on how you want to look at it. Retail sales just decelerated meaningfully in the US.
I don't pretend to know how markets will trade or otherwise interpret the weakest read on nominal spending in 10 months, but in the context of recent data which suggested the world's largest economy continued to defy the Fed's efforts to cool things down in January, a demonstrably weak read on spending may help allay concerns about right-tail risk. That's just a fancy term for
Looks like it’s slowing. I don’t know when the Fed cuts. My guess is they will slumber until may. But whenever they go, as spike Lee’s character says, it will be a fitty (do the right thing)