Fed's Goolsbee Still Thinks Soft Landing Is Possible; Only Wants To Stay Restrictive As Long As Necessary; Expects Inflation To Drop To 2%; Real Economy Weakening From Very "Hot" Level; Doesn't Believe Last Mile On Inflation Will Take Longer
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Goolsbee believes a soft landing for the economy is still possible and aims to maintain restrictive policies only as long as necessary. He expects inflation to drop to 2% and notes that the real economy is weakening from a very 'hot' level. Goolsbee does not think the final phase of reducing inflation will take longer.
July 02, 2024 | 3:10 pm
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NEUTRAL IMPACT
Goolsbee's comments suggest a cautious but optimistic outlook for the economy, which could stabilize investor sentiment. His expectation of inflation dropping to 2% and a weakening economy may lead to short-term volatility in SPY.
Goolsbee's comments provide a mixed outlook: optimism about a soft landing and inflation control, but acknowledgment of a weakening economy. This could lead to short-term volatility in SPY as investors digest the news.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80