Fed's Goolsbee Says Inflation Trends Down, Labor Market Cooling; Aim For Balanced Labor Market; No Commitment To Future Rate Path; Fed Policymakers Expect Multiple Cuts Next Year
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Goolsbee stated that inflation is trending down and the labor market is cooling. The Fed aims for a balanced labor market and has not committed to a future rate path. Policymakers expect multiple rate cuts next year.
August 02, 2024 | 4:10 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
The Federal Reserve's indication of a cooling labor market and trending down inflation, along with expectations of multiple rate cuts next year, could positively impact SPY in the short term.
The expectation of multiple rate cuts next year and a cooling labor market suggest a more favorable economic environment for equities, which could boost SPY in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 80