Fed Chair Powell Says Process Of Getting Inflation Down To 2% Has Long Way To Go
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell has stated that the process of reducing inflation to the target 2% still has a long way to go. This statement suggests that the Fed's monetary policy will remain tight for the foreseeable future.
September 20, 2023 | 6:35 pm
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NEGATIVE IMPACT
The statement by Fed Chair Jerome Powell about the long process of reducing inflation to 2% suggests a continued tight monetary policy, which could potentially impact the overall market, including SPY.
A tight monetary policy often leads to higher interest rates, which can make borrowing more expensive. This can slow down economic growth and potentially lead to lower stock prices. As SPY is a broad market ETF, it could be negatively impacted by these potential market conditions.
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IMPORTANCE 70
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