Fed's Goolsbee Says Policy Rate Set A Year Ago, Conditions Have Changed; Avoid Blowing Through Normal And Deteriorating; Economy Faces Crosscurrents; Rising Small Business Defaults And Delinquencies Are Warning Signs
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Goolsbee highlighted that the policy rate set a year ago may no longer be appropriate due to changing economic conditions. He pointed out rising small business defaults and delinquencies as warning signs, indicating the economy faces crosscurrents.
August 02, 2024 | 4:13 pm
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The Federal Reserve's Goolsbee indicated that the policy rate set a year ago may not be suitable for current economic conditions, highlighting rising small business defaults and delinquencies as warning signs. This could lead to market volatility.
Goolsbee's comments suggest potential changes in monetary policy due to deteriorating economic conditions, which could lead to market uncertainty and volatility, negatively impacting SPY in the short term.
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