Fed's Powell Says I Would Not Say We Have Achieved Soft Landing Yet; We Have A Ways To Go To Achieve Soft Landing; Am Encouraged Though By Progress We've Made; We Are Not Declaring Victory
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that the U.S. has not yet achieved a 'soft landing' in the economy, indicating that there is still progress to be made. He expressed encouragement over the progress thus far but clarified that they are not declaring victory in managing the economic slowdown without triggering a recession.
January 31, 2024 | 7:51 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Jerome Powell's comments on the economy not achieving a soft landing yet may lead to increased volatility and potential short-term bearish sentiment for the SPY ETF, which tracks the S&P 500.
Powell's remarks suggest that the Federal Reserve may continue its policies to combat inflation, which could lead to concerns about economic growth and market stability. This uncertainty can negatively affect investor sentiment and the broader market, as reflected in SPY.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80