Fed's Barkin Says Housing Inflation Is Still Elevated, And While Rents Have Come Down, Housing Prices Still Going Up; I'm Still Looking To Be Convinced On Inflation; Not Willing To Take Another Rate Hike Off The Table
Portfolio Pulse from Benzinga Newsdesk
Fed's Barkin comments on persistent housing inflation, noting that while rents are decreasing, housing prices continue to rise. He remains unconvinced about inflation trends and is open to further rate hikes.
November 29, 2023 | 3:11 pm
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Fed's Barkin's remarks on inflation and openness to rate hikes could lead to market volatility, potentially impacting SPY as it reflects the broader market sentiment.
Barkin's comments suggest that the Fed is still focused on controlling inflation, which could lead to further interest rate hikes. This typically results in increased borrowing costs and can slow economic growth, often leading to lower stock prices. As SPY tracks a broad range of stocks, it is likely to be negatively impacted in the short term by the prospect of higher rates.
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IMPORTANCE 75
RELEVANCE 80