Brace For A Jarring Miss In Retail Sales

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by Tyler Durden
Tuesday, Jul 18, 2023 - 02:00 AM

The last time Goldman was this convinced of a happy ending was the summer/fall of 2021 when the bank breathless scrambled to convince anyone listening that inflation was transitory, and that the Fed may hike a coupled times in 2022, tops.

Of course we now know that the vampire squid was dead wrong, and not only is the Fed about to hike to a Volckeresque 5.50%, but it now appears that inflation will be far stickier than anyone had expected and it's only a matter of time before the Fed will have to raise its long-term inflation target to 3%.