Market Insights:: The Surprising January Retail Sales Report | Episode 102 | 02-15-2024

In this episode of Markets with Megan, Megan Horneman looks into the surprising retail sales report for January, revealing a significant miss in every category, marking the largest decline since March 2023. She analyzes the details, highlighting declines in autos, motor vehicle sales, and building materials, which could be attributed to weather-related conditions. Megan also expresses concern about the service side of the economy, emphasizing the impact of high credit card balances and rates on consumer spending. Discussing the implications for the economy and the Fed, she predicts potential downgrades to first-quarter GDP estimates. Despite the market’s positive reaction, the Fed remains focused on inflation over economic concerns. Stay tuned for more updates on inflation in the coming weeks. For questions or comments, reach out to podcast at  Verdence dot com. Thank you for tuning in.

Watch today’s episode here: https://youtu.be/LKgltJuEc4s