Richmond Fed's Barkin Says U.S. Central Bank 'Making Real Progress' On Inflation While Economy Remains Healthy; Notes That Six-Month Core Personal Consumption Expenditures Inflation Now 'just Below' 2% Target
Portfolio Pulse from Benzinga Newsdesk
Richmond Fed President Thomas Barkin stated that the U.S. Federal Reserve is making significant progress in controlling inflation, with the economy remaining robust. He highlighted that the six-month core Personal Consumption Expenditures (PCE) inflation rate is now just below the Fed's 2% target.
January 03, 2024 | 1:29 pm
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POSITIVE IMPACT
Thomas Barkin's comments on inflation progress and a healthy economy may boost investor confidence, potentially leading to a positive impact on the SPY ETF, which tracks the S&P 500.
Barkin's statement on inflation nearing the target and a strong economy is likely to be viewed positively by investors, as it suggests that the Federal Reserve's measures are effective without harming economic growth. This could lead to increased optimism in the market, positively affecting the SPY ETF, which is a broad measure of U.S. stock market performance.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80