James Bullard, the head of the St. Louis Fed, said the Fed could begin raising interest rates before the end of quantitative easing.

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On Tuesday, the S&P 500 and the Nasdaq were mixed after US retail sales rose more than expected last month and investors assessed hawkish comments from St. Louis Fed President James Bullard as inflation remained at multi-year highs

Wall Street's main indexes fell after government data showed that retail sales rose 1.7 percent to $638.2 billion in November

Economists surveyed by Bloomberg had predicted a 1.1 percent increase

Moreover, the report showed a rise in consumer spending from September's level.

Inflation has been at 30-year highs for the past few months, which has pushed retail sales up.

According to Bloomberg, Bullard believes the market is pricing in two Fed rate increases in 2022 and that the central bank could begin raising rates before it completes its process of tapering asset purchases.

Gold prices rose by 0.1 percent to $1,864.07 an ounce in the global markets. The yield on the 10-year note rose to 1.629 percent.

The price of oil rose. At $81.33 a barrel, West Texas Intermediate crude oil has risen by 0.6 percent. Brent, the global oil benchmark, rose by 0.5 percent to $82.43 per barrel.

At $60,897.80 per coin, the value of bitcoin fell by 4.5%

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