Fed's Daly Says There's Too Much Discussion Of How Many Rate Cuts, Rather Than What Are We Trying To Accomplish; We Are On Track To Bringing Inflation Down To 2% As Gently As We Can; No Reason To Be Surprised By Bumps; We Will Maintain Policy Stance As Long As Necessary
Portfolio Pulse from Benzinga Newsdesk
Fed's Daly commented on the excessive focus on the number of rate cuts, emphasizing the goal of reducing inflation to 2% gently. Daly stated that bumps along the way should not be surprising and affirmed the Fed's commitment to maintaining its policy stance as long as necessary to achieve this goal.
April 12, 2024 | 7:37 pm
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Daly's comments may reassure investors about the Fed's commitment to controlling inflation, potentially stabilizing or positively impacting the SPY ETF as it reflects broader market sentiment.
Daly's remarks on the Fed's dedication to reducing inflation gently and maintaining policy stance could calm investors' fears about premature policy shifts, which might lead to a more stable or positive outlook for the SPY ETF, reflecting broader market sentiment.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75