Fed's Collins Warns of Inflation, Housing Challenges Ahead of The Jackson Hole Symposium
Portfolio Pulse from Piero Cingari
Susan M. Collins, President and CEO of the Federal Reserve Bank of Boston, discussed the current state of inflation, interest rates, and housing market challenges ahead of the Jackson Hole Symposium. She emphasized the need for a sustained realignment of demand and supply to bring inflation back to the 2% path. Collins also mentioned that the Federal Reserve can hold rates steady for a substantial period. The SPDR S&P 500 ETF Trust (SPY), Invesco QQQ Trust (QQQ), and Invesco DB USD Bullish Fund ETF (UUP) were impacted by her remarks.
August 24, 2023 | 4:36 pm
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NEGATIVE IMPACT
The Invesco QQQ Trust (QQQ) declined by 1.5% following Collins' remarks.
Collins' remarks on inflation and interest rates have led to uncertainty in the market, causing a drop in QQQ.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) was 0.7% lower at midday trading in New York following Collins' remarks.
Collins' remarks on inflation and interest rates have led to uncertainty in the market, causing a drop in SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Invesco DB USD Bullish Fund ETF (UUP) rose 0.5% following Collins' remarks.
Collins' remarks on inflation and interest rates have led to increased confidence in the dollar, causing a rise in UUP.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80