Fed's Powell Says We Want To See More Data That Gives Us Higher Confidence On Inflation Moving Down Sustainably; Says If There Were A Significant Weakening In Labor Market, That Would Be A Reason To Start Rate Cuts
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell emphasized the need for more data to confidently assert that inflation is on a sustainable downward trend. He also mentioned that a significant weakening in the labor market could prompt the Federal Reserve to start cutting interest rates.
March 20, 2024 | 6:48 pm
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NEUTRAL IMPACT
Powell's comments on needing more data for inflation confidence and potential rate cuts if the labor market weakens could impact SPY as it reflects broader market sentiment.
Powell's statements are crucial for market sentiment. While the emphasis on more data for inflation might cause uncertainty, the openness to rate cuts if the labor market weakens could be seen positively by investors. However, the impact on SPY, which tracks the S&P 500, is uncertain as it depends on how investors interpret these comments in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75