Buckle Up: December Retail Sales Miss Is Worse Than It Appears

Jan. 14, 2022 4:37 PM ETAAPL, BLV, EDV, GLD, MSFT, QQQ, TLT, TMF, ZROZ18 Comments

Summary

  • Disappointing December retail sales follow a string of weaker than expected macro data.
  • Concern is for a more structural economic slowdown beyond near-term Covid headwinds.
  • The Fed may need to adjust its messaging at the January FOMC meeting.
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The big headline on Friday was the poor December retail sales data which declined by -1.9% month-over-month, compared to the consensus for a flat readout. The result was blamed on a combination of persistent inflation which has pressured consumer budgets, along with

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