Citadel's CEO Ken Griffin Says Inflation This Morning Was Pretty Close To Consensus; The Fed Is Going To Be A Bit Slower Than The Market Expects; Outlook Of Future Rate Cuts Is Fueling Markets; Treasuries Are Not A Risky Investment, But Their Risk Is Underappreciated
Portfolio Pulse from Benzinga Newsdesk
Ken Griffin, CEO of Citadel, commented that the morning's inflation data was nearly in line with consensus expectations. He believes the Federal Reserve will be slower in adjusting rates than the market anticipates. Griffin also mentioned that the prospect of future rate cuts is currently driving the markets, and while Treasuries are not considered risky investments, their risk is often underappreciated.
March 12, 2024 | 7:37 pm
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Ken Griffin's comments suggest a slower pace of interest rate adjustments by the Fed, which could influence the performance of the SPDR S&P 500 ETF Trust (SPY) positively in the short term.
Given that SPY tracks the performance of the S&P 500, which is sensitive to interest rate changes and monetary policy expectations, Griffin's outlook suggesting a slower pace of rate adjustments and the potential for future rate cuts could lead to increased investor optimism. This optimism, in turn, could drive up the price of SPY in the short term as investors adjust their expectations for monetary policy and its impact on the economy.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80