Hot Retail Sales Number, Can't Fight The Fed

Retail Sales data for January 2023 was released and topped expectations. Does this indicate that the Federal Reserve will need to continue to be aggressive? "When you combine last month's jobs number, CPI data, Retail Sales, and Fed speak, the market is starting to understand that you cannot fight the Fed. Are now three more 25BPS interest rate hikes more likely than two? When you combine the strength in the economy and no movement in employment, where do people get these rate cuts?" says Bob Iaccino.