Fed's Chair Powell Says June CPI Was Welcome But Was Only One Month's Report
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell has stated that the June Consumer Price Index (CPI) report was welcome, but emphasized that it was only one month's report. This suggests that the Fed is not rushing to make policy changes based on a single data point.
July 26, 2023 | 6:39 pm
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The statement by Fed's Chair Powell may have a neutral impact on SPY as it suggests a steady approach to monetary policy, which could maintain market stability.
The Federal Reserve's monetary policy has a significant impact on the stock market. In this case, Powell's statement suggests a cautious approach, which could help maintain market stability and have a neutral impact on SPY, an ETF that tracks the S&P 500.
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IMPORTANCE 70
RELEVANCE 50