Fed's Goolsbee Says Asked About 50 Bps Cut In Sept, Says What Happens At Next Meeting Alone Is Not What Is Most Important; Next Several Months On Path Of Cuts Is More Important; I Still Hope There Could Be A 'Soft Landing'
Portfolio Pulse from Benzinga Newsdesk
In a CNBC interview, Fed's Goolsbee discussed the potential for a 50 basis points rate cut in September, emphasizing that the path of cuts over the next several months is more crucial than the immediate decision. He remains hopeful for a 'soft landing' in the economy.
September 06, 2024 | 3:37 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
The potential for a 50 basis points rate cut and the emphasis on a longer-term path of cuts could positively impact SPY, as lower interest rates generally support stock prices.
The SPY ETF, which tracks the S&P 500, is likely to benefit from potential rate cuts as lower interest rates can lead to higher stock valuations. Goolsbee's comments suggest a supportive monetary policy environment, which is generally positive for equities.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80