Fed Chair Powell Says Don't See Us Getting Back To 2% This Year Or The Next; I See Us Making Progress
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell has stated that he does not foresee the US returning to a 2% inflation rate this year or the next, although he does see progress being made.
June 28, 2023 | 3:00 pm
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NEUTRAL IMPACT
The statement by Fed Chair Powell may impact the SPY ETF, as it tracks the performance of the S&P 500, which is sensitive to monetary policy and inflation expectations.
The SPY ETF tracks the S&P 500, which is sensitive to changes in monetary policy and inflation expectations. Powell's statement suggests a continuation of the current monetary policy, which could influence investor sentiment and impact the performance of the SPY ETF. However, the exact direction of the impact is uncertain.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75