Americans are spending despite high inflation. That means rate hikes

In this handout photo provided by Walt Disney World Resort, guests stop to take a selfie at Magic Kingdom Park at Walt Disney World Resort on July 11, 2020 in Lake Buena Vista, Florida.

Matt Stroshane | Walt Disney World Resort | Getty Images

Fresh economic data this week shows Americans are shopping more than expected at the start of the year, even as prices continue to rise. That may be good news for some of the Club’s retail holdings, but less so for the broader market — because the numbers suggest the Federal Reserve will need to keep raising interest rates to cool the economy and tame still-elevated inflation.

Source: https://www.cnbc.com/2023/02/15/us-consumers-are-spending-despite-high-inflation-.html