Fed's Chair Powell Says The Last Three Readings Of Inflation Have Been Very Good, I Am Well Aware That We Need More Than Three Good Readings
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell has stated that the last three readings of inflation have been very good, indicating a positive economic outlook. However, he also noted that more than three good readings are needed for a comprehensive assessment.
September 20, 2023 | 7:07 pm
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POSITIVE IMPACT
The positive inflation readings and the cautious optimism expressed by Fed Chair Jerome Powell could potentially impact the SPY ETF, which tracks the S&P 500 and is sensitive to macroeconomic indicators.
The SPY ETF, which tracks the S&P 500, is sensitive to macroeconomic indicators such as inflation. Positive inflation readings can be seen as a sign of a healthy economy, which could potentially lead to an increase in the ETF's value. However, Powell's caution about needing more data indicates that this is not a guaranteed outcome, hence the score of 1 (likely to go up) rather than a higher score.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75