Fed's Powell Says We Are Not Satisfied With 3% Inflation; We Will Return Inflation To 2% Over Time; Our Stance We Think Is Appropriate To Do That
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that the current 3% inflation rate is not satisfactory and emphasized the commitment to return inflation to the 2% target over time. Powell believes the Fed's current stance is appropriate to achieve this goal.
May 01, 2024 | 7:02 pm
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POSITIVE IMPACT
Jerome Powell's commitment to reducing inflation to 2% and confidence in the current policy may influence investor sentiment positively, potentially impacting SPY as it reflects broader market trends.
Powell's remarks on inflation and policy stance are crucial for investors as they directly affect market expectations and interest rates, which in turn influence the stock market. A commitment to controlling inflation is generally seen as positive for market stability, potentially benefiting SPY, which tracks the performance of the S&P 500.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80