Fed's Goolsbee Asked About Bigger Rate Cuts, Says Look At The Dot Plots, Which Didn't Show Inflation Coming Down As Fast Or Unemployment Rising So High
Portfolio Pulse from Benzinga Newsdesk
In a CNBC interview, Fed's Goolsbee discussed the potential for larger rate cuts, suggesting that the dot plots should be considered. These plots did not predict inflation decreasing rapidly or unemployment increasing significantly.
September 06, 2024 | 3:36 pm
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The discussion by Fed's Goolsbee on potential rate cuts and the dot plots' predictions could influence SPY, as it reflects broader market expectations on interest rates and economic conditions.
SPY, as an ETF tracking the S&P 500, is sensitive to changes in interest rate expectations. Goolsbee's comments suggest potential rate cuts, but the dot plots indicate uncertainty in inflation and unemployment trends, leading to a neutral short-term impact.
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