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16th Jan 2024 21:11USDaily Monitor

  • The December retail sales report was much stronger than expected, and revisions were minimal.
  • We now think real consumption spending rose at a 2.6% annualized rate in the fourth quarter.
  • The Fed would prefer softer numbers, but what really matters to policymakers is the inflation picture.

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Keywords for: 18 January 2024 US Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence