Fed's Powell Says Not In A Position To Put A Number On Number Of Months Of Low Inflation Needed To Have Confidence; We Have Growing Confidence In The Inflation Data But We Have To Get It Right
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Jerome Powell stated that the Federal Reserve is not ready to specify the number of months of low inflation required to be confident in a trend. Although there is growing confidence in the inflation data, Powell emphasized the importance of accuracy in their approach.
January 31, 2024 | 8:13 pm
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NEUTRAL IMPACT
Jerome Powell's comments on the need for more data to confirm low inflation trends may lead to market uncertainty, potentially affecting the SPY ETF which tracks the S&P 500.
Powell's remarks suggest a cautious approach by the Fed, which could lead to continued uncertainty in the markets. This uncertainty may result in short-term volatility for broad market indices like the S&P 500, which SPY tracks. However, without a clear directional policy change, the immediate impact on SPY is likely to be neutral.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 70