Fed's Powell Says We Will Also Be Looking At Other Data In The Economy; But Most Important Thing Will Be The Inflation Data; Wage Increases Are Gradually Coming Down To Levels More Sustainable Over Time; High Inflation Was Not Caused Mostly By Wages; That Said We Need To See More Gradual Movement Downwards On Wage Inflation
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell emphasized the importance of inflation data in guiding future economic decisions, noting that while wage increases are becoming more sustainable, the focus remains on seeing a gradual decrease in wage inflation. High inflation was clarified not to be primarily driven by wages.
March 20, 2024 | 7:17 pm
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NEUTRAL IMPACT
Fed's focus on inflation and wage increases may influence market sentiment, potentially impacting SPY as it reflects the broader market.
As SPY is a broad market ETF, Fed's monetary policy and comments on inflation directly influence market sentiment and thus SPY's performance. Powell's remarks suggest a cautious approach, which could lead to mixed reactions in the market.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75