Falling prices at the store are not getting shoppers in the door. Retail sales dropped in May by the largest amount in 16 months – and the dip comes despite a fall in consumer prices for the month. Department and electronic stores, along with gas stations, seeing the biggest drops.
Even with this weak economic news, the Federal Reserve decided to raise interest rates by a quarter-percent on Wednesday. It’s the third hike in the last six months. And policy makers say there could be one more rate increase later this year.
The hike isn’t dampening the Dow. The market index managed to close at another all-time high. However, the NASDAQ and S&P 500 finished the day lower.
Looks like there’s a lot of bad bosses out there. A new survey from the consulting firm Life Meets Work finds 56 percent of employees say they have “toxic workplace leaders.” The study defines a toxic leader as a boss who publicly belittles subordinates, has explosive outbursts or accepts credit for others’ successes.