U.S. Economic Indicators

Retail sales rose 0.2% in January and were up 2.3% on the year.  Core sales — which exclude autos, gasoline, building materials, and food services — increased 1.1%. Census Bureau Report
 
Business inventories were up 0.6% in December and were up 4.8% from last year.  
Manufacturers’ sales fell 0.2% but were up 4.1% on the year. Census Bureau Report

U.S. News

The Wall Street Journal reports that Federal Reserve Chairman Jerome Powell has described current interest rates as “roughly neutral, given a healthy U.S. economy but slowing growth in Europe and China. Fed officials believed in December that they would need to raise rates one to three more times in 2019, however calls for rate hikes have been paused amid financial volatility and a slowing global economy. WSJ