Data-Dependent Wall Street Tries to Come to Terms With Data It Hates
And Powell? “It’s almost as if he’s like the rest of us,” Allspring Global’s Patel says
Wall Street’s conundrum: If it’s time to be data dependent, what data can be trusted?
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Central bankers keep saying they’re highly “data dependent.” Today was a good example of how difficult it is to gauge what that means. Traders can't agree on which data matters most, let alone how to read it or whether it’s even accurate anymore.