The Fed has aggressively increased interest rates this year to tame the multi-decade-high inflation. After six consecutive interest rate hikes, inflation seems to have started cooling off, as evidenced by October’s lower-than-expected Consumer Price Index (CPI).
Moreover, Federal Reserve Vice Chair Lael Brainard indicated that the central bank could soon slow down the pace of its interest rate increases. According to the National Retail Federation (NRF), holiday retail sales are expected to grow by 6% to 8% this year.
