Fed's Goolsbee Says Rising Unemployment May Indicate Worsening Job Market; Would Focus Much More On Employment If Job Mkt Weakens; Policy Is 'Very Restrictive,' Economy Not Overheating; Economic Conditions Will Warrant Size Of Rate Cuts
Portfolio Pulse from Benzinga Newsdesk
Fed's Goolsbee suggests that rising unemployment may indicate a worsening job market and emphasizes a focus on employment if the job market weakens. He describes current policy as 'very restrictive' and notes that the economy is not overheating. Future economic conditions will determine the size of rate cuts.
August 14, 2024 | 7:59 pm
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Fed's Goolsbee's comments on rising unemployment and restrictive policy may lead to short-term volatility in SPY as investors react to potential economic slowdown and future rate cuts.
Goolsbee's comments suggest a potential economic slowdown, which could lead to market uncertainty and short-term volatility in SPY. Investors may react to the possibility of future rate cuts and a weakening job market.
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