Fed Chair Powell Says Recent Monthly Inflation Readings Have Eased; More Recent Readings Show Easing
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell announced that recent monthly inflation readings have shown signs of easing. This could indicate a potential slowdown in the pace of interest rate hikes.
June 12, 2024 | 6:35 pm
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POSITIVE IMPACT
The announcement by Fed Chair Powell about easing inflation could positively impact SPY, as it suggests a potential slowdown in interest rate hikes, which is generally favorable for the stock market.
Easing inflation reduces the likelihood of aggressive interest rate hikes, which is typically positive for equities. SPY, being an ETF that tracks the S&P 500, is likely to benefit from this sentiment.
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