Sleepy Joe’s Great Big Boondoggle, Part 3

This morning’s February retail sales number may well have reflected a 3% decline from the seasonally maladjusted number for January. But that’s just headline noise as usual.

The real message in the number was more nearly the opposite. That is, the inflation-adjusted retail sales number for February was up by 4.5% compared to the pre-Covid peak during February 2020.