Retail sales up slightly in June, easing some fears of a recession

U.S. retail sales rose 1% in June, from a revised decline of 0.1% in May, the Commerce Department said Friday. At the same time, last month’ s spending gain is modest enough that it likely won’ t encourage the Federal Reserve to raise interest rates even more aggressively. “People did not fold in the face of the Ukraine shock and the subsequent surge in food and energy…