Live On Fox Business, U.S. Treasury Sec Yellen Says "I Regret Saying Inflation Was Transitory" "She Has Every Expectation That Single Biggest Contributor To Inflation Will Be Moving Down This Year"
Portfolio Pulse from Benzinga Newsdesk
In a Fox Business interview, U.S. Treasury Secretary Yellen expressed regret for previously describing inflation as transitory and anticipates the primary contributor to inflation will decrease this year.
March 13, 2024 | 3:45 pm
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Yellen's comments may lead to increased market optimism, potentially impacting SPY as investors adjust to the new inflation outlook.
Yellen's acknowledgment of a mistake and a positive outlook on inflation could restore some investor confidence, leading to a more optimistic market sentiment. As SPY tracks a broad range of U.S. stocks, improved sentiment could lead to gains in the short term.
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