SF Fed President Mary Daly Says Not Yet Confident Inflation Coming Down Sustainably To 2%; Don't See Any Evidence Right Now Of A Need To Raise Rates
Portfolio Pulse from Benzinga Newsdesk
SF Fed President Mary Daly stated that she is not yet confident that inflation is coming down sustainably to 2% and does not see any evidence currently that would necessitate raising interest rates.
May 20, 2024 | 4:10 pm
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POSITIVE IMPACT
SF Fed President Mary Daly's comments suggest that the Federal Reserve is not planning to raise interest rates in the near term, which could be positive for the stock market and SPY.
The statement from a key Fed official indicates a stable interest rate environment, which is generally favorable for equities. SPY, being a broad market ETF, is likely to benefit from this sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80