Fed's Goolsbee Says By Almost All Measures The Job Market Is Cooling; Doesn't Like To Offer Firm Guidance About Fed Rate Decisions
Portfolio Pulse from Benzinga Newsdesk
In a CNBC interview, Fed's Goolsbee stated that the job market is cooling by almost all measures. He refrained from providing firm guidance on future Fed rate decisions.
August 23, 2024 | 4:42 pm
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NEUTRAL IMPACT
The cooling job market as noted by Fed's Goolsbee could impact SPY, as it may influence future Fed rate decisions, affecting market sentiment.
SPY, as an ETF that tracks the S&P 500, is sensitive to macroeconomic indicators like employment data. A cooling job market could lead to changes in Fed policy, impacting market sentiment and SPY's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50