Fed's Goolsbee Says Inflation Coming In Close To Target; Case For Cutting Rates Has Been Clear, Nothing To Do With Politics
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Goolsbee indicates that inflation is nearing the target, suggesting a clear case for cutting interest rates. He emphasizes that this decision is not influenced by political factors.
September 30, 2024 | 4:54 pm
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The Federal Reserve's indication of potential rate cuts due to inflation nearing target levels could positively impact SPY, as lower rates often boost stock markets.
SPY, an ETF that tracks the S&P 500, is likely to benefit from potential rate cuts as lower interest rates generally lead to higher stock prices. The Fed's focus on inflation nearing target levels supports this outlook.
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