Fed's Powell Says 12-Month Core PCE Inflation Was Little Changed IN March According To Estimates; Says Fed Took Cautious Approach To Not Overreact To Declines Last Year; Says Recent Data Have Not Given Greater Confidence
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell stated that the 12-month Core PCE Inflation remained stable in March according to estimates. He emphasized the Fed's cautious approach last year, avoiding overreaction to declines. Powell also mentioned that recent data have not increased confidence in the inflation outlook.
April 16, 2024 | 5:32 pm
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NEUTRAL IMPACT
Fed's cautious stance and stable Core PCE Inflation in March may influence market sentiment, potentially impacting SPY as it reflects broader market trends.
Powell's comments on inflation and the Fed's cautious approach could lead to mixed reactions in the market. While stability in inflation is generally positive, the lack of increased confidence might cause some uncertainty. SPY, tracking the S&P 500, could see short-term volatility as investors digest these remarks and their implications for future monetary policy.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 75