Fed's Harker Says Keeping Rates Where They Are For A Bit Longer Will Help Get Inflation Down And Mitigate Upside Risks; Monetary Policy Remains Positioned In Restrictive Territory; Latest Inflation Data Quite Promising, But Falls Short Of Confidence Needed, Has Not Quite Dissipated Uncertainty; Long-Term Stubbornness Of Shelter Inflation Remains A Concern, As Does Service Sector Inflation
Portfolio Pulse from Benzinga Newsdesk
Fed's Harker suggests maintaining current interest rates to control inflation and mitigate risks. While recent inflation data is promising, uncertainty remains, particularly in shelter and service sector inflation.
June 17, 2024 | 5:01 pm
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NEUTRAL IMPACT
Fed's Harker's comments on maintaining current interest rates to control inflation could stabilize SPY in the short term. Promising inflation data is a positive sign, but ongoing concerns in shelter and service sector inflation may limit significant upward movement.
The Fed's decision to keep rates steady is generally seen as a stabilizing factor for the market. However, the persistent concerns in specific inflation areas like shelter and services suggest that significant upward movement in SPY may be limited.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80