After four consecutive three-quarter-point hikes, the Federal Reserve eased up on its most aggressive economic tightening campaign by raising interest rates by 50 basis points on Wednesday.
However, despite major macroeconomic headwinds, the U.S. economy grew at a 2.6% annual rate from July through September, snapping out of two straight quarters of contraction. Moreover, as per the National Retail Federation, holiday retail sales are expected to grow by 6% to 8% this year as consumers continue to show resilience.
