Fed's Goolsbee Says I've Not Decided The Rate Decision In July; We Failed To Prevent Inflation; Fed's Forecasting Like Private Forecasts Was Mistaken; Inflation Is Pervasive Around The World; Fed's Framework Is 'Wait And See'
Portfolio Pulse from Happy Mohamed
Fed's Goolsbee admits that the Federal Reserve failed to prevent inflation and that their forecasting was mistaken. He states that inflation is pervasive around the world and the Fed's current framework is 'wait and see'.
June 21, 2023 | 4:48 pm
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Fed's Goolsbee's admission of failure to prevent inflation and forecasting errors may cause uncertainty in the market, potentially impacting the SPY ETF.
Fed's Goolsbee admitted that the Federal Reserve failed to prevent inflation and that their forecasting was mistaken. This may cause uncertainty in the market, as investors may question the Fed's ability to manage inflation. As SPY is a broad market ETF, it could be negatively impacted by this uncertainty.
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IMPORTANCE 70
RELEVANCE 50