Fed's Powell Says Latest Inflation Data Certainly Hasn't Improved Anyone's Confidence; Says Recent Inflation Data Hasn't Altered Story Of Inflation Coming Down To 2% On A Sometimes Bumpy Path
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell commented that the latest inflation data has not boosted confidence in inflation trends, maintaining that the path to achieving a 2% inflation rate remains bumpy and unchanged.

March 20, 2024 | 6:56 pm
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NEUTRAL IMPACT
Powell's remarks on inflation may lead to increased market volatility, potentially impacting SPY as it reflects broader market sentiment.
Jerome Powell's comments on the persistence of inflation and the unaltered path to a 2% rate may cause uncertainty among investors, leading to potential short-term volatility in the markets. As SPY is a broad market ETF, it's likely to reflect this sentiment. However, the impact is considered neutral as the statement does not directly suggest a worsening economic outlook but rather reaffirms the existing trajectory.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 75