Fed Chair Powell Says Remain Highly Attentive To Inflation Risks; So Far This Year We Have Not Got Greater Confidence On Inflation In Order To Cut; We Have Made Modest Further Progress But Need More Good Data In Hand; Will Need To See More Good Data To Bolster Confidence On Inflation
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell emphasized the need to remain highly attentive to inflation risks, stating that there has not been enough progress to confidently cut rates. He highlighted the need for more positive data to bolster confidence in inflation control.
June 12, 2024 | 6:36 pm
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NEUTRAL IMPACT
Fed Chair Powell's comments on inflation risks and the need for more positive data before considering rate cuts could lead to short-term volatility in SPY, reflecting market uncertainty about future monetary policy.
Powell's emphasis on the need for more positive data before considering rate cuts suggests that the market may experience uncertainty and potential volatility. SPY, as a broad market ETF, is likely to reflect this sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80