Fed Chair Powell Says Today's Inflation Data Was A Good Reading, Hope We Get More Like It; Policy Stance Is About Right; We Think Our Policy Stance Is About Right; We Are Prepared To Adjust Policy As Appropriate; Improvement In Inflation Has Been Coming From Unwinding Of Pandemic Distortions, Complemented By Monetary Policy; Inflation Is Also Improving Because Of Positive Supply Shock
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell stated that the latest inflation data is positive and hopes for more similar readings. He believes the current policy stance is appropriate but is prepared to adjust if necessary. The improvement in inflation is attributed to the unwinding of pandemic distortions and positive supply shocks.
June 12, 2024 | 6:56 pm
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POSITIVE IMPACT
Fed Chair Powell's positive remarks on inflation data and the current policy stance are likely to boost investor confidence in the market, potentially leading to a short-term increase in SPY.
Positive inflation data and a stable policy stance from the Fed are likely to increase investor confidence, leading to a potential short-term rise in SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80