Fed's Bostic Says He Is Open To Another Half-Percentage-Point Rate Cut If Labor Market Shows Unexpected Weakness; Says Baseline Case Is For An 'Orderly' Easing With Inflation Expected To Continue Slowing And Job Market To Hold Up; He Does Not Want To Get Overconfident On Inflation Given Core Personal Consumption Expenditures Price Index Remains 2.7%; Will Be Watching Upcoming Jobs Data Closely; If Employment Growth Slows Much Below 100,000 Jobs, It Would Warrant Closer Questioning Of What Is Happening
Portfolio Pulse from Benzinga Newsdesk
Fed's Bostic is open to a half-percentage-point rate cut if the labor market weakens unexpectedly. He expects an orderly easing with slowing inflation and a stable job market. Bostic is cautious about inflation due to the core PCE price index at 2.7% and will monitor jobs data closely.
September 30, 2024 | 4:25 pm
News sentiment analysis
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POSITIVE IMPACT
The potential for a rate cut by the Fed, as indicated by Bostic, could impact SPY, reflecting broader market expectations. An orderly easing with stable inflation and job market could support SPY's performance.
SPY, as an ETF tracking the S&P 500, is sensitive to Fed rate decisions. A potential rate cut could boost market sentiment, supporting SPY. Bostic's comments on stable inflation and job market add to positive outlook.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80