Fed's President Of Chicago Goolsbee Says Fabulous News That Inflation Is Coming Down; Our Goal Is To Get Inflation Without Major Recession; Will Need To Play By Ear On Restrictiveness Of Policy Rate
Portfolio Pulse from Benzinga Newsdesk
Chicago Fed's President Goolsbee has stated that it is 'fabulous news' that inflation is coming down. The goal is to manage inflation without causing a major recession. The restrictiveness of the policy rate will need to be adjusted as necessary.
July 31, 2023 | 1:26 pm
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POSITIVE IMPACT
The news of falling inflation is likely to be seen as positive by the market, potentially leading to a rise in the SPY ETF, which tracks the S&P 500.
The SPY ETF, which tracks the S&P 500, is likely to be impacted by macroeconomic news such as inflation rates. Falling inflation is generally seen as positive for the stock market as it reduces the pressure on the Federal Reserve to raise interest rates, which can slow economic growth and negatively impact stock prices. Therefore, this news could lead to a rise in the SPY ETF in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50