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Weak US retail sales, consumer prices put spotlight on Fed

Softening in domestic demand could limit Fed's ability to continue raising interest rates this year
Thursday, June 15, 2017 - 05:50

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Consumer spending accounts for more than two-thirds of the US economy and last month's weak core retail sales reading could temper expectations for a sharp acceleration in economic growth in the second quarter.

Washington

US retail sales in May recorded their biggest drop in 16 months and consumer prices unexpectedly fell, suggesting a softening in domestic demand that could limit the Federal Reserve's ability to continue raising interest rates this year.

The Fed is expected to increase

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