Fed Chair Powell Says Inflation Well Above Goal; Inflation Has Moderated Somewhat, Expectations Well Anchored
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell has stated that inflation is currently well above the Fed's goal. However, he also noted that inflation has moderated somewhat and expectations remain well anchored.
September 20, 2023 | 6:35 pm
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NEUTRAL IMPACT
The statement by Fed Chair Powell about inflation being above the goal but moderating could impact the SPY ETF, which tracks the S&P 500 index.
The SPY ETF, which tracks the S&P 500 index, could be impacted by the Fed Chair's statement. Higher inflation can lead to increased interest rates, which can negatively impact stock prices. However, the statement that inflation is moderating could ease these concerns.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75