Retail sales came in stronger than expected for September, increasing 0.7 percent month-over-month and 3.8 percent year-over-year. WealthWise CEO Loreen Gilbert joins Yahoo Finance Live to discuss the report and what it means for future interest rate hikes.
September’s retail sales data showed that “people are spending a lot of money eating out… and we’re also seeing people buy online retail, like Amazon (AMZN),” Gilbert says. “People are still spending a lot of money, but if we really look at the consumer, we think that there are some cracks coming,” as consumer credit has increased on credit card debt.
On future rate hikes from the Federal Reserve, Gilbert adds that she sees “a rate hold, not a rate hike. I think we’re in a holding measure right now and I think that’s going to be extended.”