Fed's Harker Says The Soft Landing Process Will Likely Be Bumpy; I Expect Unemployment To Tick Up, But Not By A Lot; We Don't Need To Raise Rates Anymore; I Am Hearing Things Are Starting To Soften Faster Than Data Suggests
Portfolio Pulse from Benzinga Newsdesk
Fed's Harker commented on the economic outlook, suggesting that the process towards a soft landing will be bumpy and expects a slight increase in unemployment. He believes that there is no need for further rate hikes as he observes signs of the economy softening more rapidly than data indicates.
December 20, 2023 | 5:23 pm
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NEUTRAL IMPACT
Fed's Harker's comments may lead to increased volatility in the SPY as investors digest his views on unemployment and the pace of economic softening.
Harker's remarks suggest a cautious but not pessimistic outlook, which could lead to a neutral short-term impact on SPY. His view against further rate hikes may support market stability, while the anticipation of a bumpy soft landing could cause some investor concern.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70