Fed's Jefferson Says Likely To Be Appropriate To Begin Cutting Policy Rate Later This Year; January CPI Data 'Disappointing,' Shows Path Down Likely To Be Bumpy; Fed Staff Estimates Show PCE Price Index Rose 2.4% Over The 12 Months Ended In January
Portfolio Pulse from Benzinga Newsdesk
Fed's Jefferson remarks on the likelihood of cutting the policy rate later this year, despite January's CPI data being disappointing. He suggests the path to lower inflation may be bumpy. Fed staff estimates indicate the PCE Price Index rose 2.4% over the 12 months ended in January.
February 22, 2024 | 3:01 pm
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POSITIVE IMPACT
Jefferson's comments on potential policy rate cuts and the bumpy path to lower inflation may influence investor sentiment, impacting SPY.
Jefferson's remarks suggest a cautious but proactive approach by the Fed towards managing inflation and interest rates. This could lead to increased investor optimism, as lower interest rates generally support equity prices, potentially benefiting SPY.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80