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Media Center
| Economic Review, Economy
The Federal Reserve faces “a tricky job” in addressing inflation but NRF Chief Economist Jack Kleinhenz says continuing growth in employment, wages and consumer spending make it unlikely the effort will backfire into a major setback for the economy.
| Father's Day
Consumer spending this Father’s Day is expected to total $20 billion, nearly on par with last year’s record-setting figure of $20.1 billion, according to the annual consumer survey released by NRF and Prosper Insights & Analytics
| Retail Sales, Economy
Consumers accustomed to inflation continued to spend in April as retail sales overcame higher prices to show both monthly and year-over-year increases, NRF said.
| Safety & Security, Loss Prevention
NRF issued a statement from Vice President of Retail Technology and Cybersecurity Christian Beckner regarding the recent act of domestic terrorism in Buffalo, N.Y.
| Port Tracker, Supply Chain, Economy, Forecasts
Imports at the nation’s major retail container ports set a new record this spring and are expected to see near-record volume this month as retailers bring in merchandise ahead of rising costs and further supply chain issues, according to the monthly Global Port Tracker report from NRF and Hackett Associates.
| Economy
NRF and a group of small retailers told Congress small businesses are the hardest hit by high credit card “swipe” fees that are driving up inflation and that they want to see more competition in the payments market.
| Economic Review, Economy, Retail Sales
The economy’s fast-paced growth could slow somewhat as the Federal Reserve tries to bring inflation under control in the next few months, but consumers are likely to keep on shopping as lower inflation eases uncertainty, NRF Chief Economist Jack Kleinhenz says.
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NRF said a Senate Finance Committee hearing will give Congress an opportunity to closely examine anticompetitive practices that are adding to inflation through billions of dollars in “swipe” fees charged to process credit card transactions.
| Mother's Day, Holidays & Seasonal
Mother’s Day spending is expected to total $31.7 billion this year, up $3.6 billion from 2021’s record spending, according to the annual consumer survey released by the National Retail Federation and Prosper Insights & Analytics.
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NRF urged Visa and Mastercard to cancel credit card swipe fee increases scheduled to take effect this month, citing a letter from both Republican and Democratic members of Congress saying higher fees would add to inflation.