Fed's Waller Says If Future Data Shows Significant Deterioration In Labor Market, Fed Can Act Quickly And Forcefully; Would Also Cut At Consecutive Meetings If Data Calls For It As I Would Be For Larger Cuts If Needed; Do Not Believe Economy Is In A Recession Or Necessarily Headed For One Soon;I Stand Ready To Act Promptly To Support The Economy As Needed
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Waller stated that the Fed is prepared to act quickly and forcefully if future data indicates significant deterioration in the labor market. He mentioned the possibility of cutting rates at consecutive meetings if necessary and emphasized that he does not believe the economy is currently in a recession or heading towards one soon.
September 06, 2024 | 3:02 pm
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The Federal Reserve's readiness to cut rates if the labor market deteriorates could impact SPY, as rate cuts generally boost stock markets. Waller's comments suggest potential support for equities.
SPY, an ETF that tracks the S&P 500, is likely to be positively impacted by potential rate cuts as indicated by Waller. Rate cuts typically lead to lower borrowing costs and can stimulate economic activity, which is favorable for equities.
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