Fed's Goolsbee Says Interesting Consumers Have Withstood Fed Rate Hikes So Well; Sees Definite Improvement In Core Inflation, But Too Soon To Say Victory; Doesn't Want To Change Fed's 2% Inflation Target In Current Cycle; Is Willing To Be Patient Getting Back To 2% Inflation
Portfolio Pulse from Happy Mohamed
Federal Reserve's Goolsbee has noted that consumers have managed to withstand the recent Fed rate hikes well. He also sees an improvement in core inflation but believes it's too early to declare victory. Goolsbee does not wish to change the Fed's 2% inflation target in the current cycle.
August 25, 2023 | 4:44 pm
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NEUTRAL IMPACT
The Federal Reserve's rate hikes and inflation target could impact the SPY ETF. The resilience of consumers to these hikes and the improvement in core inflation are positive signs.
The SPY ETF, which tracks the S&P 500, could be impacted by the Federal Reserve's monetary policy decisions. The resilience of consumers to rate hikes and the improvement in core inflation could potentially stabilize the ETF's performance. However, it's too early to predict the exact impact as Goolsbee has cautioned that it's too soon to declare victory on inflation.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50