Powell Says Since December, Higher Goods And Housing Inflation Than Expected, Expectation Is We Will See Inflation Move Back Down This Year; Says My Confidence In Inflation Moving Back Down Is Lower Than Before
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell stated that since December, there has been higher goods and housing inflation than expected. However, he anticipates inflation will decrease this year, though his confidence in this prediction is lower than before.
May 01, 2024 | 6:52 pm
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Powell's comments on inflation and reduced confidence in its decline may lead to increased market volatility, potentially impacting SPY.
Powell's remarks on higher than expected inflation and his lowered confidence in its reduction could lead to uncertainty in the market. This uncertainty may result in increased volatility, affecting broad market indices like SPY, which tracks the performance of the S&P 500. Investors may react negatively to the prospect of continued inflation, leading to potential sell-offs in the short term.
CONFIDENCE 75
IMPORTANCE 90
RELEVANCE 80