Fed Chair Powell Says We Don't Right Now Have The Confidence Right Now That Would Warrant Loosening Policy; We Don't See Ourselves As Having The Confidence That Would Warrant Policy Loosening At This Time; Fomc Participants Were Allowed To Update Their Seps To Incorporate Cpi Data Today If They Wanted To; Most Policymakers Don't Update Their Forecasts Though; Some People Do Update Them, Most Don't
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell stated that the Federal Reserve does not currently have the confidence to warrant loosening monetary policy. He mentioned that FOMC participants could update their Summary of Economic Projections (SEPs) to incorporate recent CPI data, although most policymakers do not update their forecasts frequently.
June 12, 2024 | 6:46 pm
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NEUTRAL IMPACT
The Federal Reserve's decision to maintain its current monetary policy stance is likely to impact the SPDR S&P 500 ETF (SPY). The lack of policy loosening could lead to market uncertainty and potential short-term volatility.
The SPDR S&P 500 ETF (SPY) is sensitive to Federal Reserve policies. The decision to not loosen policy could lead to market uncertainty, affecting SPY's short-term performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80