Fed's Goolsbee Says Housing Inflation Remains Elevated Compared To Pre-COVID Levels; Achieving 2% Inflation Target Challenging Unless It Declines, But Optimistic About Future Slowdown
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Goolsbee stated that housing inflation remains elevated compared to pre-COVID levels, making it challenging to achieve the 2% inflation target unless it declines. However, he remains optimistic about a future slowdown.
May 30, 2024 | 5:54 pm
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The Federal Reserve's concern about elevated housing inflation could impact the broader market, as represented by SPY, due to potential implications for interest rates and economic policy.
Elevated housing inflation suggests that the Federal Reserve may need to maintain or increase interest rates to combat inflation, which could negatively impact the broader market, including SPY.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50