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Three Reasons Why Retail Sales Are About To Disappoint Bigly

Three Reasons Why Retail Sales Are About To Disappoint Bigly

On Friday the Department of Commerce will report August retail sales, a material report which all else equal, may influence whether the Fed proceeds with its plans to unveil balance sheet tapering in its upcoming FOMC meeting. However, as we discussed last week, the report, together with virtually all other high frequency economic reports, will be materially distorted by the destructive aftermath of hurricane Harvey (Irma's impact will be felt in the September retail report).

Irma's Last-Minute Westward Shift May Have Saved Florida $150 Billion In Damages

Irma's Last-Minute Westward Shift May Have Saved Florida $150 Billion In Damages

As it traversed the state of Florida, Hurricane (now tropical depression) Irma left a trail of destruction not seen since Hurricane Andrew hammered the state in 1992. But despite the rising death toll, historic flooding and a ruined power grid that could take weeks to repair, meteorologists say Floridians should consider themselves fortunate.

Because it could’ve been much, much worse.

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