Retail Sales Jumped 3% in January , Despite Inflation.<br />The Commerce Department <br />revealed the data on Feb. 15.<br />January retail sales sored by 3%, far <br />exceeding economists' expectations of 1.8%.<br />CNN reports that retail sales haven't increased by that much in nearly two years. .<br />Department stores saw increased sales of 17.5%, food and drink services had a 7.2% bump.<br />Department stores saw increased sales of 17.5%, food and drink services had a 7.2% bump.<br />and auto dealers saw sales grow by 6.4%.<br />The January report indicates that consumers keep shopping despite dramatic price increases brought on by inflation.<br />What we’ve seen is a lot of resilience among consumers. Generally, Americans overall have done a pretty good job of managing through some challenging times, Matt Schulz, chief credit analyst for LendingTree, via CNN.<br />However, the January report in combination <br />with increased hiring will likely prompt the <br />Federal Reserve to implement more rate hikes.<br />The economy remains strong, unemployment is low, and that is what is going to keep inflation elevated. , Chris Zaccarelli, chief investment officer for <br />Independent Advisor Alliance, via CNN.<br />The Fed is going to need to raise rates higher — and hold them higher for longer — than people currently expect, , Chris Zaccarelli, chief investment officer for <br />Independent Advisor Alliance, via CNN.<br />... and this is going to cause markets to go through some significant volatility as stock and bond markets are priced for benign scenarios and not the more difficult one <br />that we are headed towards, Chris Zaccarelli, chief investment officer for <br />Independent Advisor Alliance, via CNN
