Fed's Powell, On 2 Inflation Numbers Says Don't Think They Added To Anyone's Confidence; Says We Are Not Going To Overreact To These Two Months Of Data; Nor Ignore Them; Says We Are Not Going To Overreact To These Two Months Of Data; Nor Ignore Them
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell commented on recent inflation data, stating that the two months of data did not add to confidence but emphasized that the Fed will neither overreact nor ignore the data. This suggests a cautious approach to monetary policy adjustments.
March 20, 2024 | 6:47 pm
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POSITIVE IMPACT
Powell's cautious remarks on inflation may lead to a stable outlook for interest rates, potentially benefiting the SPY as it reflects the broader market sentiment.
Powell's comments suggest a balanced approach to monetary policy, which could stabilize market expectations around interest rates. This stability is generally positive for equity markets, as it reduces uncertainty. Given SPY's role as a broad market ETF, it is likely to benefit from such an environment.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75