Weaker Retail sales cited
JP Morgan is out with their fforecast for 4Q GDP after the wweaker than expected Retail Sales today and it is not a good one. They now see US GDP tracking at 1.5% vs 2.0% previously. That is not the type of growth that inspires, is it.
The Fed will still hike by 25 basis points. The weaker data might soften the Chairs tone a bit but at the same time, she probably does not want to appear like she is react to one piece of data (and the most recent).
