Fed's Powell Says It's Clear That Policy Is Restrictive; We Believe Over Time Policy Is Sufficiently Restrictive To Bring Inflation Back Down To 2%
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell stated that current policy is restrictive and is expected to effectively reduce inflation to the 2% target over time.
May 01, 2024 | 6:41 pm
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NEUTRAL IMPACT
Powell's remarks on restrictive policy and inflation control may influence investor sentiment, potentially impacting SPY as it reflects broader market trends.
As SPY is a broad market ETF, Powell's comments on monetary policy and its effectiveness in controlling inflation can influence market sentiment. While the direct impact on SPY's price is uncertain, such policy statements often lead to increased market volatility as investors adjust their expectations for interest rates, economic growth, and inflation.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75