Fed's Cook Says Expect Economic Growth To Remain Near The Rate Of Potential Growth, Somewhat Above 2%; Rising Credit Card And Auto Loan Delinquencies Not Yet Concerning But Bear Watching; I Lean Toward Optimism On Innovation, Productivity, Allowing Faster Pace Of Non-inflationary Growth; Financial System Not Currently Positioned To Unusually Amplify Any Future Shock
Portfolio Pulse from Benzinga Newsdesk
Fed's Cook expects economic growth to remain near the potential growth rate, slightly above 2%. Rising credit card and auto loan delinquencies are not yet concerning but should be monitored. Cook is optimistic about innovation and productivity, which could allow for faster non-inflationary growth. The financial system is not currently positioned to amplify future shocks.
June 25, 2024 | 4:12 pm
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Fed's Cook's comments suggest stable economic growth and a stable financial system, which could positively impact SPY in the short term.
Cook's optimistic outlook on economic growth and stability in the financial system suggests a positive environment for the broader market, which SPY tracks.
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