Inflation and Rate Hikes Putting Pressure on U.S. Consumers
• November consumer inflation data out Tuesday - expected to show unchanged headline inflation month-over-month but 0.3% rise in core
• Wholesale inflation on Wednesday also expected to show some easing in producer price pressures
• Fed policy decision Wednesday afternoon - rates expected to remain unchanged, but focus shifting to how long rates will stay high
• November retail sales Thursday - likely to show second straight monthly dip, underscoring headwinds for consumer spending
• Combination of high prices, interest rates, and slowing job growth beginning to negatively impact resilient U.S. consumers