Fed's Goolsbee Says I Don't Like Precommitting What Rates Will Be At Next Meeting; Still A Lot Of Data To Parse Before Then; My Conditions For Fed Being Done With Rates Are That We Are Clearly Back On Path To Get Inflation Back To 2%
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Goolsbee stated that he does not prefer precommitting to what the rates will be at the next meeting as there is still a lot of data to parse. He added that his conditions for the Fed to be done with rates are that we are clearly back on the path to get inflation back to 2%.
November 07, 2023 | 1:14 pm
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NEUTRAL IMPACT
The comments from Federal Reserve's Goolsbee may impact the SPY ETF as changes in the Federal Reserve's interest rate policy can affect the overall market.
The Federal Reserve's interest rate policy has a significant impact on the overall market. Therefore, any comments or indications about potential changes in this policy can affect market sentiment and, consequently, the SPY ETF, which tracks the S&P 500 index. However, as Goolsbee did not provide a clear direction on the future rate policy, the impact is neutral at this point.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50