Fed Is Focused On 2% Inflation Goal Despite June Pause In Interest Rate Hikes, Powell Tells Congress
Portfolio Pulse from Piero Cingari
Fed Chair Jerome Powell told Congress that the Federal Reserve remains focused on its 2% inflation goal despite pausing interest rate hikes in June. Investors now place a 79% probability on a 25-basis-point rate rise in July. Powell also discussed capital requirements, the dollar, climate change, and central bank digital currency.
June 21, 2023 | 4:28 pm
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NEUTRAL IMPACT
Fed Chair Powell's reaffirmation of the 2% inflation goal and potential rate hike in July may impact the broader market, including the SPDR S&P 500 ETF (SPY).
Jerome Powell's statements on the 2% inflation goal and potential rate hike in July may have an indirect impact on the broader market, including the SPDR S&P 500 ETF (SPY). However, the impact is not specific to SPY and will depend on how the market reacts to the Fed's decisions.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50