Fed's Logan Says Progress On Inflation 'encouraging,' Too Early To Be Confident It Is Headed To Fed's 2% Target In Sustainable, Timely Way; Output, Spending Have Been Surprisingly Strong; Outlooks For Consumer Are
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Logan stated that the progress on inflation is encouraging but it's too early to be confident that it is headed to Fed's 2% target in a sustainable, timely way. He also noted that output and spending have been surprisingly strong and the outlooks for consumers are positive.
October 09, 2023 | 1:02 pm
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POSITIVE IMPACT
The Federal Reserve's comments on inflation and strong output and spending could 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. The Federal Reserve's comments on inflation and strong output and spending could therefore have a positive impact on the ETF in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75