August 13, 2014 – Reuters reports that retail sales stalled in July. With Americans keeping their pocketbooks closed, momentum in the economy is showing signs of a slowdown.
From the report:
The economy has experienced six consecutive months of job growth above 200,000. With layoffs and job openings back to their pre-recession levels, further gains in employment are in the cards. Data on manufacturing and services sectors have suggested the economy was growing solidly.
Still, the pause in retail sales could give the Federal Reserve ammunition to maintain its very easy monetary policy stance for a while. The U.S. central bank has kept its benchmark overnight interest rate near zero since December 2008.