Fed Chair Powell Says The Big Thing That Change Rate Path Forecasts Was Inflation; We Had A Pause In Progress In Inflation In Q1, Takeaway Was That It Will Take Longer To Get To Rate Cuts; We Have To Let The Data Light The Way; Today Was A Better Inflation Report Than Almost Anyone Expected
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell stated that inflation was the key factor influencing rate path forecasts. He noted a pause in inflation progress in Q1, indicating that rate cuts will take longer. However, today's inflation report was better than expected.
June 12, 2024 | 6:50 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) may experience short-term volatility due to Fed Chair Powell's comments on inflation and rate cuts. The better-than-expected inflation report could provide a temporary boost.
Fed Chair Powell's comments on inflation and the delay in rate cuts are significant for the market. The better-than-expected inflation report could lead to a positive short-term impact on SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80