“The good news is that the economy is growing, inflation is moderating, and overall fundamentals look fine as increased consumer spending supports underlying momentum."

National Retail Federation chief economist Jack Kleinhenz commented on the continued spending of consumers despite stubborn inflation and small wage gains. He added, “U.S. economic growth for the remainder of this year will depend on several factors but particularly the pace of job growth, inflation and what actions will be taken by the Federal Reserve.” Kleinhenz's comments appeared in the June issue of NRF's Monthly Economic Review.