Richmond Fed's Barkin Says Companies Still Saying There Is "No Crime" In Trying To Raise Prices; Services In Particular Still Feel They Can Raise Prices; Latest Retail Sales Numbers Point To "Good But Not Great" Consumer Spending; CPI Still Not Where The Fed Is Trying To Get
Portfolio Pulse from Benzinga Newsdesk
Richmond Fed's Barkin comments on companies' pricing strategies, noting that services still feel they can raise prices. Retail sales numbers indicate 'good but not great' consumer spending, and CPI is still not at the Fed's target.
May 16, 2024 | 2:08 pm
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Richmond Fed's Barkin comments on persistent price increases in services and moderate consumer spending, which could impact overall market sentiment.
Barkin's comments suggest ongoing inflationary pressures and moderate consumer spending, which could lead to mixed market reactions. SPY, as a broad market ETF, may see neutral short-term impact as investors weigh these factors.
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IMPORTANCE 70
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