Fed's Harker Says Next Year Fed Will Have Inflation Around 3%, Growth Slowing To Trend; At This Point I See Fed Holding Steady This Year, Next Year Is Data Driven; Can't Predict When Fed Will Cut Rates
Portfolio Pulse from Happy Mohamed
In a CNBC interview, Fed's Harker stated that he expects inflation to be around 3% next year, with growth slowing to trend. He also mentioned that he sees the Fed holding steady this year, and that next year's actions will be data-driven. He did not provide a prediction on when the Fed will cut rates.
August 24, 2023 | 2:20 pm
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NEUTRAL IMPACT
Fed's Harker's comments on inflation and growth could impact the SPY ETF. The prediction of 3% inflation and slowing growth could lead to market uncertainty.
The SPY ETF tracks the S&P 500 and is sensitive to changes in the overall economy. Harker's comments about inflation and growth could lead to market uncertainty, which could impact the ETF. However, as he did not provide a clear prediction on rate cuts, the impact is uncertain.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50