Retail sales for March jumped 0.9%, falling short of the 1.1% rise economists expected. Consumers scaled back spending on gasoline, amid continued weakness in oil prices. While spending at restaurants only rose 0.7%, consumers spent more on big ticket items, such as autos, showing some signs of consumer strength. TheStreet’s Scott Gamm speaks with Jeff Greenberg, senior economist at J.P. Morgan Private Bank, to discuss the state of the consumer and what the latest report from the Commerce Department means for the Federal Reserve, as it prepares for its first rate hike since 2006.
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