Fed's Powell Says Reversal Of Supply And Demand Distortions And Restrictive Policy Are Bringing Down Inflation; Have Made Lots Of Progress But A Ways To Go
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that the reversal of supply and demand distortions, along with restrictive monetary policy, are contributing to the reduction of inflation. He acknowledged significant progress in this area, but also emphasized that there is still more work to be done to fully stabilize inflation.
May 01, 2024 | 7:09 pm
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Powell's comments on progress in combating inflation and the ongoing efforts needed may influence investor sentiment, potentially impacting the SPY ETF as it reflects broader market trends.
Jerome Powell's statements on the state of inflation and the Federal Reserve's ongoing efforts to control it are crucial for investors. Positive progress on inflation can lead to increased investor confidence, potentially boosting stock market indices like the SPY ETF, which tracks the performance of the S&P 500. However, the acknowledgment of 'a ways to go' suggests that the Fed's policies will remain restrictive, which can also cause market volatility.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80