Fed's Barkin Says Progress On Goods Has Been Encouraging, And Could Make The Case That It Could Continue; Some Businesses In Service Sector Have Found They Have Pricing Power And Will Not Give It Up Until There Is Pushback From Consumers And Competitors
Portfolio Pulse from Benzinga Newsdesk
Fed's Barkin has noted encouraging progress in the goods sector, suggesting it may continue. He also mentioned that some service sector businesses have discovered pricing power, which they are likely to maintain until faced with consumer or competitor pushback.
January 11, 2024 | 7:23 pm
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NEUTRAL IMPACT
Fed's Barkin's comments on the goods sector and service sector pricing power may influence investor sentiment, potentially affecting the SPY ETF which tracks the S&P 500.
While Barkin's comments provide a positive outlook on the goods sector, the mention of sustained pricing power in the service sector could imply ongoing inflationary pressures. This mixed message may lead to a neutral short-term impact on the SPY ETF, as investors digest the implications for monetary policy and economic growth.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50