Economists Warn of Market Volatility Due to Inconsistent Data, Wall Street Investors Distracted

Former Federal Reserve officials and economists are expressing concerns about the volatility in the financial markets due to the inconsistent economic data. Gregory Daco, chief economist at EY, highlighted the potential risks of placing too much emphasis on individual payroll reports, which could lead to an extremely volatile environment. Similarly, a former Fed official noted that investors, including Wall Street investors, can get distracted by the 'bouncing ball' of economic data, as reported by MarketWatch. Yung-Yu Ma from BMO also pointed out that the current market is characterized by a high degree of uncertainty, with mixed data being interpreted pessimistically until more consistently positive data emerges.