Fed Chair Powell Says Summary Of Economic Projections Are Not A Plan Or Any Kind Of Decision; Assessment Of Policy Will Adjust; If Economy Remains Solid And Inflation Persists, Will Keep Rates Where They Are For As Long As Needed; Policy Is Well-Positioned; Will Continue To Make Decisions Meeting By Meeting
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell emphasized that the Summary of Economic Projections is not a plan or decision. He stated that policy assessments will adjust based on economic conditions. If the economy remains solid and inflation persists, interest rates will be maintained as needed. Decisions will be made on a meeting-by-meeting basis.
June 12, 2024 | 6:39 pm
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NEUTRAL IMPACT
Fed Chair Powell's comments suggest that interest rates will remain high if inflation persists, which could impact the broader market. SPY, representing the S&P 500, may experience volatility as investors react to potential rate adjustments.
Powell's statement on maintaining high interest rates if inflation persists could lead to market volatility. SPY, as an ETF tracking the S&P 500, is likely to be affected by these macroeconomic signals.
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IMPORTANCE 70
RELEVANCE 80