Fed's Powell Says Committed To Both Sides Of Dual Mandate, Says We Need Greater Confidence Inflation Moving Sustainably Down Before We Cut Rates
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell emphasized the commitment to the dual mandate of controlling inflation and maximizing employment. He stated that the Fed needs greater confidence that inflation is moving sustainably downward before considering rate cuts.
March 20, 2024 | 6:38 pm
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POSITIVE IMPACT
Powell's comments may lead to cautious optimism among investors, potentially stabilizing or slightly boosting SPY as the market digests the Fed's stance on inflation and interest rates.
Powell's remarks suggest a careful approach to monetary policy, which could reassure investors about the Fed's commitment to managing inflation without prematurely cutting rates. This may lead to a positive, albeit cautious, market reaction, potentially benefiting SPY as it reflects the broader market sentiment.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80