Consumer spending held up during June’s inflation surge, with retail sales rising slightly more than expected for the month amid rising prices across most categories, the Commerce Department reported Friday.
Americans are feeling slightly better about the economy, but inflation still bites
Americans are feeling slightly better about the economy, but painfully high inflation is still keeping consumer sentiment at close to an all-time low, according to preliminary survey data released by the University of Michigan on Friday.
Wall St gains as bets of supersized rate hike recede
U.S. stocks climbed on Friday as upbeat retail sales data allayed some concerns about an imminent recession, while investors scaled back bets of a supersized interest rate hike in July after comments from Federal Reserve policymakers.