Stripping out hurricanes impacts on auto and gasoline sales, retail sales growth remains pitiful. That´s clear when you compare sales growth over the past two years with growth in the years before the crisis.
Meanwhile, average CPI-Core inflation on average was much the same in the two periods. The only reason the Fed obsesses with “low inflation” at present is that it now has an explicit 2% target.
On the data release, the long bond yield tumbled.