Bostic Says Will Be Looking For Early Signs That Changes In Unemployment Are Starting To Accelerate; Not Seeing It Yet
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Bank of Atlanta President Raphael Bostic commented that he is monitoring for early signs of acceleration in unemployment changes but has not observed such indications yet, according to Reuters.
January 08, 2024 | 7:02 pm
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NEUTRAL IMPACT
Bostic's remarks on unemployment may influence investor sentiment and expectations about the economy, potentially impacting the SPDR S&P 500 ETF Trust (SPY).
Bostic's comments are indirectly related to SPY as it tracks the performance of the S&P 500, which can be influenced by economic indicators like unemployment. However, since there is no immediate change in unemployment trends, the impact on SPY is likely to be neutral in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70