Minneapolis Fed President Kashkari Said Balance Of Risks Have Shifted Toward Risk Of Further Labor Market Weakening, Higher Unemployment; 50 BPS Rate Cut Was Right Decision, Reflects Progress On Inflation, Softening Of Labor Market
Portfolio Pulse from Benzinga Newsdesk
Minneapolis Fed President Kashkari stated that the risks have shifted towards a weakening labor market and higher unemployment. He supported the 50 basis points rate cut, citing progress on inflation and a softening labor market.
September 23, 2024 | 11:04 am
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NEUTRAL IMPACT
The SPY ETF, which tracks the S&P 500, may be influenced by Kashkari's comments on the labor market and the Fed's rate cut decision. A softening labor market and progress on inflation could impact market sentiment.
Kashkari's comments suggest a cautious outlook on the labor market, which could lead to mixed reactions in the stock market. The SPY ETF, representing the S&P 500, may see neutral short-term impact as investors weigh the implications of a rate cut and labor market concerns.
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IMPORTANCE 60
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