Former Council of Economic Advisers Chair Kevin Hassett joins ‘Kudlow’ to discuss ‘pressure’ that could cause the Fed to increase rates as much as another percentage point.
Americans picked up the pace on spending March even as they continued to face high interest rates and steeper prices for everyday goods.
Retail sales, a measure of how much consumers spent on a number of everyday goods including cars, food and gasoline, jumped 0.7% in March, the Commerce Department said Monday. That is much higher than the 0.3% increase forecast by LSEG economists.
The March advance is not adjusted for inflation, meaning that consumers may be spending the same but getting less bang for their buck.
This is a developing story. Please check back for updates.
