Retail Numbers Show Consumers Not Struggling Yet

The dip in consumer spending will still come if wages do not keep up with inflation, and they are not, says Bob Iaccino of Path Trading Partners. He says we'll likely see the chance of a 50 basis point hike go higher. We might see a little sideways consolidation in crude oil futures (CL) with an upward bias, which is still a tax on consumers. he explains. Bob discusses the supply chain issue along with energy prices and that the Fed cannot control either of those things. Bob points to inversions of the yield curve that is helping gold (/GC) as well.