Fed's Jefferson Says In March, Headline PCE Was 2.7% Over Past 12 Months Based On Fed Staff Estimates; Core PCE At 2.8%; Despite Considerable Progress In Lowering Inflation, Job Not Yet Done; My Baseline Outlook Remains Inflation Will Decline Further With Policy Rate At Current Level
Portfolio Pulse from Benzinga Newsdesk
Fed's Jefferson highlighted that as of March, headline PCE inflation was at 2.7% over the past 12 months, with core PCE at 2.8%, according to Fed staff estimates. Despite progress in reducing inflation, he stated the job isn't done, expecting further decline in inflation with the policy rate maintained at its current level.
April 16, 2024 | 1:05 pm
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Fed's Jefferson's comments on inflation and policy rates may influence investor sentiment towards the SPY ETF, reflecting broader market expectations.
Jefferson's remarks on inflation and the policy rate indirectly affect SPY by influencing investor expectations about the economic environment and the Federal Reserve's future actions. While the direct impact on SPY is not specified, the broader economic indicators and policy stance discussed are crucial for market sentiment, potentially affecting SPY's performance.
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