Fed's Goolsbee Says Inflation Is On Path To 2% And We Now Need For Labor Market And GDP To Stabilize; Danger Signs Are When You See Things Starting To Get Worse; Current Employment Average Is Too Low For Replacement Rate; You've Got To Be Careful With Passive Tightening
Portfolio Pulse from Benzinga Newsdesk
In a CNBC interview, Fed's Goolsbee stated that inflation is on track to reach 2%, but emphasized the need for stabilization in the labor market and GDP. He warned of danger signs if conditions worsen and noted that current employment averages are too low for the replacement rate, cautioning against passive tightening.
September 06, 2024 | 3:39 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may be influenced by Fed's Goolsbee's comments on inflation and economic stabilization. His caution about the labor market and GDP could impact investor sentiment.
Goolsbee's comments suggest a stable inflation outlook but highlight concerns about the labor market and GDP, which could affect overall market sentiment and thus SPY. However, no immediate drastic changes are indicated, leading to a neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50