Fed's Harker Says Disinflation Trend Has Picked Up, Fed In Last Mile Of Heading To 2%; Consumer Spending Remains Strong; Concerned By Rise In Credit Related Delinquencies; Rise In Layoffs Not A Sign Of Recession Arriving
Portfolio Pulse from Benzinga Newsdesk
Fed's Harker noted a stronger disinflation trend, indicating the Fed is close to its 2% target. Despite strong consumer spending, there's concern over increasing credit-related delinquencies. However, a rise in layoffs is not seen as a sign of an impending recession.
February 22, 2024 | 8:17 pm
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The SPDR S&P 500 ETF Trust (SPY) may see short-term positive impact from Fed's Harker comments on nearing the 2% inflation target and strong consumer spending, despite concerns over credit delinquencies.
Harker's comments suggest the Fed is close to achieving its inflation target, a positive sign for the economy and markets, potentially boosting investor confidence in assets like SPY. Strong consumer spending supports market growth, outweighing concerns over credit delinquencies and layoffs.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75