Fed's Chair Powell Says Core Inflation Is Still Pretty Elevated
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell has stated that core inflation remains elevated. This could potentially impact the broader market, including ETFs like SPY.
July 26, 2023 | 6:49 pm
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NEGATIVE IMPACT
The statement by Fed Chair Powell about high core inflation could potentially impact SPY, as it tracks the broader market.
High inflation can lead to increased interest rates, which can negatively impact the stock market. As SPY tracks the S&P 500, it could be negatively impacted by this news.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75