Fed's Bostic Says Job Growth Has Been Robust, Providing Comfort In Maintaining More Restrictive Levels; Not In Danger Of Falling Into A More Contractionary Environment; May Need To Be More Patient To Avoid Overheating The Economy
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Raphael Bostic stated that job growth has been robust, which supports maintaining restrictive monetary policies. He emphasized that the economy is not in danger of becoming overly contractionary and suggested patience to avoid overheating the economy.
May 23, 2024 | 7:20 pm
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NEUTRAL IMPACT
Fed's Bostic's comments on robust job growth and maintaining restrictive policies may stabilize SPY in the short term, as it suggests a balanced approach to economic management.
Bostic's remarks indicate a balanced approach to monetary policy, which may prevent significant market volatility. This could lead to a neutral impact on SPY as investors digest the news.
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