Fed's Powell Says January Inflation Numbers Were Quite High But Reason To Think There Were Seasonal Affects There; Says The Two Inflation Numbers Together Haven't Changed The Overall Story
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell acknowledged the high inflation numbers in January but suggested seasonal effects played a role. He stated that the recent inflation data hasn't altered the broader economic narrative.
March 20, 2024 | 6:45 pm
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POSITIVE IMPACT
Powell's comments on inflation and its seasonal impacts may reassure investors, potentially stabilizing or positively influencing SPY's performance in the short term.
Powell's remarks suggest a nuanced understanding of the recent inflation data, indicating it may not prompt an aggressive policy response. This could ease investor concerns about rapid interest rate hikes, which is generally positive for stock market ETFs like SPY.
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