Fed Vice Chair Jefferson Says Fed Staff Estimate Core PCE Prices Rose At Annual 4.1% In First 4-Months Of 2024, With 12-Month Change At 2.75%; Restrictive Monetary Policy Has Weighed On Housing Market; Market Rents Take A Long Time To Pass Through To PCE Housing Services Prices
Portfolio Pulse from Benzinga Newsdesk
Fed Vice Chair Jefferson announced that core PCE prices rose at an annual rate of 4.1% in the first four months of 2024, with a 12-month change at 2.75%. He also noted that restrictive monetary policy has impacted the housing market, and market rents take a long time to reflect in PCE housing services prices.
May 20, 2024 | 2:32 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
The announcement of rising core PCE prices and the impact of restrictive monetary policy on the housing market could lead to increased market volatility. SPY, as an ETF tracking the S&P 500, may experience short-term fluctuations.
The news indicates economic conditions that could lead to market volatility. SPY, representing the broader market, may see short-term fluctuations as investors react to the Fed's data and policy impacts.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50