Fed Chair Powell Says Inflation Still "Well Above" Target But Moving In The Right Direction; The Data Will Tell The Fed If It Has Done Enough Or Needs To Do More
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Jerome Powell acknowledged that inflation remains 'well above' the Federal Reserve's target, but he also noted that it is moving in the right direction. Powell emphasized that future data will guide the Fed's decisions on whether their measures have been sufficient or if further action is required to control inflation.
December 01, 2023 | 4:34 pm
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NEUTRAL IMPACT
Fed Chair Powell's comments on inflation may lead to increased market volatility as investors anticipate potential changes in the Fed's monetary policy, which could impact the SPDR S&P 500 ETF Trust (SPY).
Powell's statement is non-committal and suggests a data-dependent approach, which does not provide a clear direction for the market. This uncertainty can lead to short-term volatility in the SPY as it reflects the broader market's reaction to potential shifts in monetary policy.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 70