Fed's Waller Says Still Seems To Be More Potential Excess Consumer Saving Than People Think; Consumer Spending Has Been Surprising, Doesn't Seem To Be Pulling Back; Still Hopeful Rate Hikes Will Slow Spending, Inflation
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Christopher Waller stated that there appears to be more potential excess consumer saving than anticipated. He noted that consumer spending has been surprisingly robust and doesn't seem to be retracting. Waller remains hopeful that rate hikes will slow spending and inflation.
October 18, 2023 | 4:44 pm
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The Federal Reserve's comments on potential excess consumer saving and the impact of rate hikes could influence the overall market, represented by SPY.
The Federal Reserve's comments on consumer saving and rate hikes can have a broad impact on the market. While the comments do not directly mention SPY, as a representation of the overall market, SPY could be influenced by these macroeconomic factors.
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IMPORTANCE 80
RELEVANCE 75