Fed Chair Powell Says Inflationary Pressures Have Decreased, But Non-Housing Services Still Show Elevated Inflation; Unexpected Increase In Import Prices On Goods; Wages Running Above Sustainable Path; Not Principal Cause Of Inflation But Must Decrease For Inflation To Return To 2%
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell stated that while inflationary pressures have decreased, non-housing services still show elevated inflation. There was an unexpected increase in import prices on goods, and wages are running above a sustainable path. Although wages are not the principal cause of inflation, they must decrease for inflation to return to 2%.
June 12, 2024 | 7:02 pm
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NEUTRAL IMPACT
Fed Chair Powell's comments on inflation and wages could lead to market volatility. SPY may experience short-term fluctuations as investors react to the news.
Powell's comments on inflation and wages are significant for the overall market sentiment. SPY, being a broad market ETF, is likely to see short-term fluctuations as investors digest the news.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80