Fed's Goolsbee Says 25 BPs Vs 50 BPs Cut Is Not As Important As Getting Rates Down Over Next 12 Months By A Lot, To Get To Neutral
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Goolsbee emphasized that the focus should be on significantly reducing interest rates over the next 12 months to reach a neutral level, rather than debating between a 25 or 50 basis points cut.
October 03, 2024 | 5:14 pm
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The SPDR S&P 500 ETF (SPY) could be influenced by Goolsbee's comments on the Federal Reserve's focus on reducing interest rates significantly over the next year, which may impact market sentiment and stock prices.
Goolsbee's comments suggest a dovish stance by the Fed, which could lead to lower interest rates. This is generally positive for equities, as lower rates can boost economic activity and corporate profits, potentially benefiting SPY.
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