Kevin Warsh wraps up his first meeting leading the Fed, and what does the American dream even mean in this economy?

From Marketplace in Washington, I'm Kimberly Adams. Later today, we'll be getting pending home sales, but earlier this morning, the Census Bureau released retail sales data, and despite rising inflation, Americans are still spending. Retail sales were up

9 tenths of a percent in May, up from 4 tenths percent in April, and they were up almost 9 percent

year over year. Here to break this all down for us is Susan Schmidt. She's portfolio manager

at Exchange Capital Resources. Good morning, Susan. Thank you for having me.

How much of this is just us spending more on gas? Gas and food are more expensive. That's certainly

part of it, but it does mean that increased costs across all of the supply chain exist. They're still

there. And so it shows that the consumer isn't backing off,

even though this is a big share of their wallet and becoming larger as gas prices increase.

The Fed meets today to make a decision on interest rate. And obviously, it's the first meeting

for Kevin Warsh. How are these numbers factoring into decision making? It will influence them, but they're not the most important point for the Fed.

And it's too soon for the Fed to really incorporate all of this data into their decisions that

have happened when the meeting started yesterday.

The biggest thing about today's meeting is that we're going to hear an announcement

from Kevin Warsh.

This is the first time he's presiding as chair of the Fed. It's the first time

that we'll hear an announcement from a new voice. Remember that Kevin Warsh and the President

Trump appointee has been arguing for lowering interest rates. Hot inflation numbers like these

retail numbers don't help support that argument. Susan Schmidt is portfolio manager at Exchange Capital

Resources. Thank you so much. Thank you. A price war in the pizza business has convinced

yum brands to throw in the towel. The corporate owner of the Pizza Hut chain is selling it to a

private equity firm. Pizza Hut has struggled as consumers turn to the cheapest options for

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