Fed Chair Powell Says Outlook Still Quite Uncertain, Fed Faces Risks On Both Sides Of Its Mandate; Those Risks Continue To Move Into Better Balance; Fed Continues To Believe Policy Rate Likely At Peak For This Cycle; To Keep Public's Trust, Fed Must Avoid 'Mission Creep'
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell stated that the economic outlook remains uncertain, with risks on both sides of its mandate. However, these risks are moving into better balance. The Fed believes the policy rate is likely at its peak for this cycle, emphasizing the importance of avoiding 'mission creep' to maintain public trust.
April 03, 2024 | 4:13 pm
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POSITIVE IMPACT
Powell's comments suggest a cautious but stabilizing economic outlook, which could influence investor sentiment and potentially stabilize or slightly boost SPY as it reflects broader market trends.
Powell's remarks indicate a belief that the policy rate is at its peak, suggesting no further rate hikes in the near term. This could lead to a more stable or optimistic outlook among investors, potentially benefiting SPY as it mirrors the performance of the S&P 500, which is sensitive to interest rate expectations.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80