Fed's Mester Says Downside Risks To Growth, Hiring Have Fallen; Expects Gradual Progress On Lowering Inflation; Welcomes CPI Data Sign Of Cooling Inflation; Labor Market Conditions Are Strong
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Mester indicates that downside risks to growth and hiring have decreased. She expects gradual progress in lowering inflation and welcomes recent CPI data as a sign of cooling inflation. The labor market conditions remain strong.
May 16, 2024 | 4:01 pm
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POSITIVE IMPACT
The Federal Reserve's Mester's comments on reduced downside risks to growth and hiring, along with expectations of gradual progress in lowering inflation and strong labor market conditions, are likely to have a positive impact on SPY.
Mester's comments suggest a stable economic environment with reduced risks and gradual progress on inflation, which is positive for the overall market sentiment. SPY, being an ETF that tracks the S&P 500, is likely to benefit from this positive outlook.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80