Fed's Waller Says Shipping Does Not Need To Go Through The Red Sea; Could Require Some One Time Level Impacts On Costs, But Not On Underlying Inflation
Portfolio Pulse from Benzinga Newsdesk
Fed's Waller suggests that shipping does not need to pass through the Red Sea, implying that while there may be one-time cost impacts, this should not affect underlying inflation.
January 16, 2024 | 4:39 pm
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NEUTRAL IMPACT
Fed's Waller's comments suggest that any disruptions in shipping routes not affecting underlying inflation may have a neutral impact on the broad market, as represented by SPY.
Since SPY tracks a broad range of sectors, the impact of shipping route changes on overall inflation is diluted. Waller's comments suggest that the market, in general, may not see significant volatility from this specific issue, hence a neutral score.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50