Fed's Goolsbee Warns Of Flashing Yellow Signs As Small Business Defaults And Unemployment Rise, Now Reaching Cautionary Levels
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Goolsbee has issued a warning about increasing small business defaults and rising unemployment, which have now reached cautionary levels. This could signal potential economic challenges ahead.
August 16, 2024 | 5:41 pm
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NEGATIVE IMPACT
The warning from Fed's Goolsbee about rising small business defaults and unemployment could negatively impact the SPY ETF, as it reflects broader economic concerns.
The SPY ETF, which tracks the S&P 500, could be negatively impacted by the warning from Fed's Goolsbee. Rising small business defaults and unemployment are indicators of economic distress, which could lead to a broader market downturn.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80