More Rate Hikes and Weaker Growth in 2023 Should Lead to a Weaker Retail Industry

In the latest episode of The Portfolio Fix, Marco Bravo interprets Fed Chairman Powell’s press conference as meaning more rate hikes, which should likely lead to weaker growth and higher unemployment in 2023.  Mike Ashley then provides the key items he’s monitoring in evaluating the consumer and ultimately the retail sector - unemployment, excess savings and credit card balances.

 
This episode was recorded on December 15, 2022 and November 30, 2022. Any timely data or views should be considered as of this date unless otherwise specified.

Sources: Bloomberg, The Federal Reserve, Bureau of Labor Statistics, U.S. Census Bureau, Bureau of Economic Analysis

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