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| Economic Review, Economy
Inflation is at a 40-year high but isn’t hitting all consumers as hard as top-line numbers might suggest, NRF Chief Economist Jack Kleinhenz says. Nonetheless, consumer worries about rising prices could become self-fulfilling if workers demand higher wages to compensate and will play a role in the Federal Reserve’s efforts to bring inflation under control.
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NRF has hired veteran technology policy expert Michael Lemon to manage its portfolio of e-commerce and related issues as vice president for legal affairs.
| Supply Chain, Trade, Economy
To avoid additional supply chain disruptions, the National Retail Federation is encouraging the International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) to begin contract negotiations well before the June 30 contract expiration.
| Retail Sales, Economy
Retail sales powered through COVID-19’s omicron variant, inflation and other challenges to post strong increases in January, according to NRF.
| Port Tracker, Trade, Economy, Supply Chain
Imports at the nation’s congested container ports are expected to grow modestly during the first half of 2022, but continued high volumes will keep up pressure that built as the economy bounced back from the pandemic last year, according to the monthly Global Port Tracker report from NRF and Hackett Associates.
| Supply Chain
The National Retail Federation issued the following statement from Senior Vice President of Government Relations David French after the Ocean Shipping Reform Act (OSRA) of 2021 was introduced in the Senate.
| Economy, Economic Review
Coming up on two years since the short-lived 2020 recession, the United States appears to be at the midpoint of an economic cycle that should continue to see growth even as the Federal Reserve raises interest rates to bring inflation under control, NRF Chief Economist Jack Kleinhenz says.
| Valentine's Day, Consumer Trends, Holidays & Seasonal
Valentine’s Day spending is expected to reach $23.9 billion this year, up from $21.8 billion in 2021 and the second-highest year on record, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics.
| Consumer Trends, Retail Sales
Retailers expect more than $761 billion in merchandise sold last year to be returned by consumers, according to a report released by the National Retail Federation and Appriss Retail.
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The NRF Foundation Board of Directors named a new chair and added a director during its virtual meeting on Jan. 14.