Fed's Powell Says Factors Contributing To Inflation Decline Are Happening But Much Later And Taking Longer Than We Had Hoped; Services Sector Much Less Responsive To Rate Hikes And Cost Of Capital
Portfolio Pulse from Happy Mohamed
Federal Reserve Chairman Jerome Powell stated that factors contributing to inflation decline are happening, but at a slower pace than expected. He also noted that the services sector is less responsive to rate hikes and cost of capital.
June 21, 2023 | 4:41 pm
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NEUTRAL IMPACT
Fed's Powell's comments on inflation decline and services sector's response to rate hikes may impact the overall market, including the SPY ETF.
Jerome Powell's comments on the slower-than-expected inflation decline and the services sector's response to rate hikes may create uncertainty in the market. This could lead to a neutral short-term impact on the SPY ETF, as investors may adopt a wait-and-see approach.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50