Richmond Fed's Barkin Earlier Said Latest Inflation Data Did Not Increase Confidence That Disinflation Is Spreading In The Economy; Latest Inflation Data Looks Like It Did At End 2023, With Goods Prices Falling, Shelter Moving Sideways And Services Increasing; Fed Is "Not Yet Where We Want To Be" On Inflation, Though "Headed In The Right Direction" Over A Longer Time Frame
Portfolio Pulse from Benzinga Newsdesk
Richmond Fed President Barkin commented that the latest inflation data does not boost confidence in widespread disinflation, noting goods prices are falling, shelter costs are stable, and services prices are rising. He stated the Fed is not yet at its desired inflation target but is moving in the right direction over a longer period.
April 11, 2024 | 2:02 pm
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NEUTRAL IMPACT
Barkin's comments on inflation and the economic direction may influence investor sentiment, potentially impacting SPY as it reflects broader market trends.
Barkin's remarks on inflation and the economic outlook can affect investor sentiment, which in turn may impact SPY. However, the effect might be neutral in the short term as the market digests the implications of the Fed's ongoing efforts to combat inflation and the mixed signals from the latest data.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 75