Goldman Sachs managing director Kate McShane and Allianz chief economic advisor Mohamed El-Erian analyze July retail sales drops and rising diesel prices. They discuss consumer spending changes and Federal Reserve rate hike expectations.
Goldman Sachs managing director Kate McShane and Allianz chief economic advisor Mohamed El-Erian break down the July retail sales decline of 0.6 percent. McShane details the shift in consumer spending habits toward value, while El-Erian warns of persistent inflation and record-high diesel prices of $6.23 per gallon ahead of the upcoming Federal Reserve meeting.
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