Fed's Goolsbee Says We Are Tight And Restrictive; Shouldn't Overreact To One Month's Data; Central Bank's Job Is To Move Steadily; Must Consider Employment Mandate If Restrictive For Too Long
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Goolsbee emphasized that the central bank is currently tight and restrictive, and cautioned against overreacting to one month's data. He highlighted the importance of moving steadily and considering the employment mandate if restrictive conditions persist for too long.
August 02, 2024 | 4:04 pm
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The Federal Reserve's cautious stance on monetary policy, as highlighted by Goolsbee, suggests a steady approach without overreacting to short-term data. This could lead to stability in the SPY ETF in the short term.
Goolsbee's comments suggest that the Federal Reserve will not make abrupt changes based on short-term data, which could result in a stable outlook for SPY in the short term.
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