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Cycle Watch | October 2023: Higher rates begin to bite

October 25, 2023
By Mark Hackett
By Ben Ayers
A financial professional assisting a couple.

Retail sales soared higher than expected in September, marking the sixth straight month of growth. Sales gains are an important factor for the Fed’s future monetary policy actions. While the Fed may leave rates unchanged at its next policy meeting, robust consumer spending keeps the pressure on the central bank.

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