Fed's Powell Says We Are Trying To Stay In The Frontiers Of What Is Going On In Digital Finance; We Need To Be Knowledgeable About All That; I Haven't At All In My Own Mind Made A Decision That The U.S. Needs A Central Bank Digital Currency; My Main Message At Congressional Hearings Was FOMC Needs To See More Evidence On Inflation
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Jerome Powell emphasized the importance of staying informed on digital finance developments, expressing an open stance without committing to a U.S. central bank digital currency (CBDC). He highlighted the need for the Federal Open Market Committee (FOMC) to gather more evidence on inflation before making decisions.
March 20, 2024 | 7:18 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Powell's comments on digital finance and the cautious approach to a U.S. CBDC, along with the emphasis on needing more inflation data, may influence investor sentiment and market stability, potentially impacting SPY.
While Powell's comments do not directly pertain to specific market movements, his cautious and informed approach to digital finance and inflation monitoring can influence overall market sentiment. Given SPY's nature as a broad market ETF, shifts in sentiment based on regulatory and economic outlooks can impact its performance, albeit in a more indirect and nuanced manner.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70