Atlanta Fed's Bostic Says Share Of Goods Rising 5% Or More Has Fallen Below 20%; Inflation Remains 'chief Concern,' Businesses Say They See No 'Cliff' Ahead For The Job Market; Fed Can Achieve 2% Inflation With A Job Market That Remains 'tight' By Historical Standards; Service Businesses Say Pricing Power Is Eroding
Portfolio Pulse from Benzinga Newsdesk
Atlanta Fed's Bostic reports that the share of goods rising 5% or more has fallen below 20%. Inflation remains a chief concern, but businesses do not foresee a significant downturn in the job market. The Fed aims to achieve 2% inflation while maintaining a historically tight job market. Service businesses are experiencing eroding pricing power.
June 27, 2024 | 2:02 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
The Atlanta Fed's Bostic indicates a decrease in the share of goods rising 5% or more, suggesting easing inflation pressures. However, inflation remains a primary concern. The Fed aims for 2% inflation with a tight job market, which could stabilize SPY in the short term.
The news suggests easing inflation pressures, which is positive for the market. The Fed's goal of achieving 2% inflation with a tight job market indicates a stable economic outlook, likely benefiting SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80