Fed's Mester Says Lack Of Progress On Inflation Was Not Welcome; No Risk In Spending More Time Gathering Data On Inflation Because Economy Is Strong
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Mester expressed concerns over the lack of progress on inflation but noted that there is no risk in spending more time gathering data due to the strong economy.
May 20, 2024 | 6:08 pm
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The Federal Reserve's Mester expressed concerns about inflation but indicated that the strong economy allows for more time to gather data. This could lead to short-term market stability.
Mester's comments suggest a cautious approach to inflation, which may lead to short-term stability in the market as investors digest the news. SPY, being a broad market ETF, is likely to reflect this sentiment.
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