Fed's Daly Says 'More Work To Do' On Inflation; 'Remarkable' Progress On Inflation Is Not Victory; Slowing Inflation, Without Significant Decline In Unemployment, Is 'Unequivocally Good News'; Need More Time, Data To Be Sure Of Continued Progress On Inflation
Portfolio Pulse from Benzinga Newsdesk
Fed's Daly comments on the state of inflation, indicating that while there has been 'remarkable' progress, it is not yet a victory. Daly highlights the slowing of inflation without a significant decline in unemployment as 'unequivocally good news' but stresses the need for more time and data to ensure continued progress on inflation.
February 16, 2024 | 5:46 pm
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NEUTRAL IMPACT
Fed's Daly's comments on inflation and the need for more data may influence investor sentiment, potentially impacting the SPY ETF as it reflects the broader market.
Daly's comments on inflation and the economy are closely watched by investors as they can influence Federal Reserve policy decisions, which in turn affect the broader market. The SPY ETF, being a broad market index, is likely to be impacted by changes in investor sentiment resulting from these comments. However, the impact is considered neutral in the short term as the comments suggest a wait-and-see approach.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75