Fed's Goolsbee Says Fed Is Cutting Rates Because Economy Has Normalized; Job Market Is Steady State And Sustainable; Interest Rates Coming Down 'The Order Of The Day'; Sees 'Cautionary Indicators' On Job Market; Fed Can't Wait For Job Market To Weaken Before Acting; Most Important Thing About Rate Cuts Is Process Of Easing
Portfolio Pulse from Benzinga Newsdesk
The Federal Reserve, according to Goolsbee, is cutting interest rates as the economy has normalized and the job market is stable. The focus is on easing rates, despite cautionary indicators in the job market. The Fed aims to act proactively rather than waiting for the job market to weaken.
September 30, 2024 | 4:52 pm
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POSITIVE IMPACT
The Federal Reserve's decision to cut interest rates as the economy normalizes could positively impact SPY, as lower rates often boost stock market performance.
Interest rate cuts typically lead to lower borrowing costs and can stimulate economic activity, which often results in higher stock prices. SPY, being an ETF that tracks the S&P 500, is likely to benefit from this environment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80