With Increasingly Adverse Economic Data, FOMC Hiked the Fed Funds Rate

May 2017 Nominal Retail Sales Fell by 0.3% (-0.3%), Despite a
Gimmicked Monthly Sales Boost of 0.2% from Seasonal-Factor Distortions

Headline Real May Retail Sales Sank by 0.13% (-0.13%),
Despite a CPI Contraction of 0.13% (-0.13%)

Recession Signal Intensified Sharply

First-Quarter Real Average Weekly Earnings Held in Annual Decline,
Along with Back-to-Back Quarterly Contractions; Despite No Growth in May,
Weak Inflation Boosted Second-Quarter Real Earnings Trend

Headline CPI-U Inflation Declined by 0.13% (-0.13%) in May 2017,
Pulling Annual CPI-U Inflation Lower to 1.87% (Was 2.20%), with
CPI-W at 1.78% (Was 2.14%) and ShadowStats at 9.6% (was 10.0%)

May 2017 Annual Final-Demand PPI at 2.36%,
Minimally Backed Off a 62-Month High of 2.45% in April

Annual PPI Inflation Boosted by Poor-Quality Theoretical Constructs,
Such as Declining Gasoline Prices Spiking Services Inflation