Fed's Kashkari Says Wage Growth Is Still Quite Robust Relative To 2% Goal; Policy Is Restrictive By Most Measures, But Not All
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Neel Kashkari stated that wage growth remains robust compared to the 2% inflation goal. He also mentioned that while monetary policy is restrictive by most measures, it is not universally so.
May 28, 2024 | 1:59 pm
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NEGATIVE IMPACT
The statement by Fed's Kashkari about robust wage growth and restrictive monetary policy could impact SPY, as it suggests potential for continued inflationary pressures and possible future rate hikes.
Kashkari's comments suggest that inflationary pressures remain, which could lead to further rate hikes. This is generally negative for SPY as higher rates can reduce equity valuations.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80