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The optimistic report released by the Commerce Department on Thursday may not change the expectation that the Federal Reserve will cut interest rates again next month, as news from the manufacturing sector remains bleak, highlighting the bleak economic outlook in the context of tight trade relations and a slowdown in overseas economic growth.
US President Trump welcomed strong retail sales figures. The day before, a key part of the U.S. Treasury yield curve appeared for the first time since June 2007, triggering a sell-off in the stock market. Historically, the inversion of the bond yield curve is a reliable indicator for predicting the coming recession.
Trump's "U.S. priority" policy has led to a fierce trade war between the United States and China, which has been blamed for undermining the longest-lasting economic expansion in U.S. history and triggering a global recession.
"So far, the United States is the largest, strongest and most powerful economy in the world, and it's far from us," Trump wrote on Twitter. "When others stumble, we become stronger. Consumers are in the best condition ever. They have plenty of cash.
Financial markets have fully absorbed the Fed's expectation of cutting interest rates by 25 basis points at its policy meeting on September 17-18. The Federal Reserve cut short-term interest rates by 0.25 percentage points last month on the grounds of trade disputes between the United States and China and the global economic slowdown.
But these data may push the market to lower its expectations of a 50 basis point cut in interest rates next month.


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