Fed's Goolsbee Earlier Said Rate Cuts Should Be Tied To Confidence In Being On A Path Toward Our Target Rate; I Expect Improvements In Housing Services Inflation To Resume; That Said, CPI Data Yesterday Was Puzzling, Is Something I Am Watching
Portfolio Pulse from Benzinga Newsdesk
Fed's Goolsbee commented on the relationship between rate cuts and confidence in achieving the target rate. He expects improvements in housing services inflation but finds the recent CPI data puzzling and worth monitoring.
February 14, 2024 | 3:22 pm
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NEUTRAL IMPACT
Goolsbee's comments on rate cuts and inflation may influence investor sentiment, potentially impacting SPY as it reflects the broader market.
Goolsbee's statements on economic indicators such as inflation and interest rates are closely watched by investors. While his comments provide some optimism, the mention of puzzling CPI data introduces uncertainty. This mix of optimism and uncertainty is likely to have a neutral but closely watched impact on SPY, reflecting broader market sentiment.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70