Fed's Goolsbee Says A Broad Set Of Data Shows The Labor Market Is Cooling; Says If Productivity Keeps Booming, That Implies Higher Growth, Higher Neutral Rate
Portfolio Pulse from Benzinga Newsdesk
In a Bloomberg TV interview, Fed's Goolsbee stated that a broad set of data indicates the labor market is cooling. He also mentioned that if productivity continues to boom, it could imply higher growth and a higher neutral rate.
October 04, 2024 | 2:15 pm
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NEUTRAL IMPACT
Fed's Goolsbee's comments on a cooling labor market and potential higher growth due to booming productivity could impact SPY, as these factors influence economic outlook and interest rates.
SPY, as an ETF tracking the S&P 500, is sensitive to macroeconomic indicators. Goolsbee's comments suggest a cooling labor market, which could ease inflationary pressures, while booming productivity might lead to higher growth and a higher neutral rate. These factors could influence interest rate expectations, impacting SPY's performance.
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