Fed's Kashkari Says By Many Measures Excess Savings Have Been Spent Down; Lower-Credit-Score Borrowers' Delinquencies Are Climbing; On Average Consumers Seem Like They Are Doing Fine
Portfolio Pulse from Benzinga Newsdesk
Neel Kashkari from the Federal Reserve indicated that excess savings have been largely depleted, and delinquencies among lower-credit-score borrowers are rising. However, on average, consumers appear to be managing well.
October 21, 2024 | 6:23 pm
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The commentary by Neel Kashkari suggests a mixed economic outlook. While excess savings are depleted and delinquencies are rising, the average consumer is still doing fine. This could imply stability in consumer spending, affecting SPY.
Kashkari's comments provide a mixed view of the economy. The depletion of excess savings and rising delinquencies could be negative, but the overall consumer health appears stable. This suggests a neutral short-term impact on SPY.
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