Fed's Bowman Says Her Baseline Outlook Continues To Be That Inflation Will Decline Further With Policy Rate Held Steady; She Remains Willing To Raise Federal Funds Rate At A Future Meeting Should Data Show Progress On Inflation Has Stalled Or Reversed; Still Sees A Number Of Upside Inflation Risks To Her Outlook; Will Continue To Watch Data Closely To Assess Appropriate Monetary Policy
Portfolio Pulse from Benzinga Newsdesk
Fed's Bowman stated her baseline outlook is for further inflation decline with the policy rate held steady, but she is open to raising the federal funds rate if inflation progress stalls or reverses. She acknowledges upside inflation risks and will closely monitor data to assess monetary policy.
May 03, 2024 | 1:48 pm
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NEUTRAL IMPACT
Bowman's comments may influence investor sentiment towards the broader market, impacting SPY as it tracks the S&P 500.
Bowman's remarks on inflation and the potential for future rate hikes can influence market expectations and sentiment, which in turn can affect the performance of SPY. However, the impact is considered neutral in the short term as the statement includes both a commitment to maintaining current rates and a willingness to adjust if necessary.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75