Fed Chair Powell Says Our Economy Has Made Considerable Progress; Continued Strong Job Gains In Economy; Inflation Is Still Too High; Inflation Has Eased Substantially But Still Too High; We Are Maintining Our Restrictive Stance Of Policy; We Are Maintaining Restrictive Stance To Keep Demand In Line With Supply
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell stated that the economy has made considerable progress with strong job gains, but inflation remains too high. The Fed will maintain its restrictive policy stance to balance demand and supply.
June 12, 2024 | 6:32 pm
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NEUTRAL IMPACT
The Fed's decision to maintain a restrictive policy stance despite economic progress and strong job gains suggests continued caution in the market. This could lead to short-term volatility in SPY.
The Fed's stance on maintaining restrictive policies to control inflation, despite acknowledging economic progress, indicates a cautious approach. This could lead to mixed reactions in the market, causing short-term volatility in SPY.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 80