Diane Swonk(@DianeSwonk):Stunning retail sales gains in August, with gains broad based and in the core that feeds into GDP as well as vehicles. Discretionary on restaurants as well. Strengthens the demand side of the inflation equation and why debate has shifted from whether the Fed will raise rates to how far they need to raise rates to derail an inflation rooted in both demand and supply shocks.

Diane Swonk

@DianeSwonk

Chief Economist, @KPMG_US. Briefs Federal Reserve. Labor economist with more years experience than I care to admit. Opinions my own. RTs not endorsements.

Joined October 2010

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Diane Swonk@DianeSwonk

2026.09.16 12:54

Stunning retail sales gains in August, with gains broad based and in the core that feeds into GDP as well as vehicles. Discretionary on restaurants as well. Strengthens the demand side of the inflation equation and why debate has shifted from whether the Fed will raise rates to how far they need to raise rates to derail an inflation rooted in both demand and supply shocks.

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