Fed Chair Powell Says We In The Phase Of Sticking With It Until We Get It Done; We Are Encouraged That We Are Still Seeing Solid Economic Growth; Today's Inflation Report Is Also Encouraging, But Comes After Several That Were Not So Encouraging; Asked About Shelter Inflation, Says There Are Big Lags In Seeing It Feed Through Into Inflation Data; It May Take Several Years For The 'bulge' In Rent Prices To Work Its Way Through To Lower Housing Inflation
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell stated that the Federal Reserve is committed to its current monetary policy until inflation is under control. He noted that the latest inflation report is encouraging but follows several disappointing ones. Powell also mentioned that shelter inflation has a significant lag and may take years to reflect lower housing inflation.
June 12, 2024 | 7:09 pm
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Fed Chair Powell's comments on sticking with current monetary policy until inflation is controlled could lead to short-term volatility in SPY. The latest inflation report is encouraging, but concerns about shelter inflation persist.
Powell's comments suggest a steady approach to monetary policy, which could stabilize markets. However, the mixed signals from inflation reports and concerns about shelter inflation may lead to short-term volatility in SPY.
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