Fed's Loretta Mester Says 'We Only Get A Trophy' If Inflation Hits 2%
Portfolio Pulse from Chris Katje
Cleveland Fed President Loretta Mester has reiterated the need for two future rate hikes to bring inflation down to the Fed's target of 2%. She noted that while progress has been made, with one of the two predicted hikes already implemented, inflation remains too high. Mester's comments follow Fed Chairman Jerome Powell's earlier statement that the Fed is prepared to raise rates further if necessary. The SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.2% on the day.
August 25, 2023 | 6:18 pm
News sentiment analysis
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NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (NYSE:SPY) may be impacted by the Fed's potential future rate hikes as they could affect overall market sentiment and volatility.
The SPDR S&P 500 ETF Trust (NYSE:SPY) tracks the S&P 500, and thus, any changes in the overall market sentiment due to potential future rate hikes by the Fed could impact its performance. However, the exact impact is uncertain and depends on various factors including the timing and magnitude of the rate hikes, and how they are perceived by the market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50