'Freight Recession,' Persistent Job Tightness And Sticky Inflation: 3 Takeaways From The Fed's May Beige Book
Portfolio Pulse from Piero Cingari
The Federal Reserve's May Beige Book highlights a freight recession, persistent job tightness, and sticky inflation. The transportation services industry and commercial real estate sector face significant challenges, while the labor market remains robust and inflation continues to rise at a slower pace.
May 31, 2023 | 6:30 pm
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The SPDR S&P 500 ETF Trust (NYSE:SPY) experienced a slight rebound after the release of the May Beige Book, which highlighted challenges in the transportation and commercial real estate sectors, as well as persistent job tightness and sticky inflation.
The May Beige Book provides a qualitative assessment of economic conditions, which can influence the overall market sentiment. While the report highlights challenges in certain sectors, it also shows a robust labor market and moderate inflation. This mixed outlook may result in a neutral short-term impact on the SPY ETF, as investors digest the information and assess its implications for the broader market.
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