Investing.com – Markets were more volatile after the release of US retail sales figures and then Fed member Chris Waller’s speech. Investors fear a rapid slowdown in economic growth. Another recession is on the minds of people and is likely to come in 2023.
The main retail sales index fell 0.8% on a monthly basis, as analysts had expected a drop of just 0.3%. Earlier there was stagnation in sales.
General retail sales for their stock fell 1%, while forecasts for a 0.2% contraction were only down 0.4%.
Chris Waller’s intervention also weighed on expectations as he pointed to the robustness of the US economy and the need to maintain an aggressive monetary policy.
U.S. Treasury yields rose more than 10 basis points in minutes. The S&P 500 saw strong volatility in reaction before moving lower.
The central bank’s rate hike forecasts have shifted in favor of a firm hike. Investing.com’s Fed barometer shows an 80% probability of the next Fed meeting.
