Fed's Goolsbee Says Consumer Sentiment Is Not A Good Indicator For Spending Behavior
Portfolio Pulse from Benzinga Newsdesk
Austan Goolsbee, President of the Federal Reserve Bank of Chicago, stated that consumer sentiment is not a reliable indicator for predicting consumer spending behavior. This suggests that traditional metrics may not fully capture economic activity.
September 23, 2024 | 2:50 pm
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The statement by Fed's Goolsbee may influence investor perception of economic indicators, potentially affecting SPY, which tracks the S&P 500. If consumer sentiment is less reliable, market volatility could increase.
SPY, as an ETF tracking the S&P 500, could be influenced by changes in investor sentiment regarding economic indicators. Goolsbee's statement may lead to reevaluation of consumer sentiment's role, but the direct impact on SPY is uncertain.
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