Fed's Harker Says Last Week's CPI Data Very Welcome, But Overall Progress On Inflation In Recent Months Has Been Modest; I Still Forecast Slowing But Above-Trend Growth, Modest Rise In Unemployment Rate, Long Glide Back To 2% Inflation
Portfolio Pulse from Benzinga Newsdesk
Fed's Harker welcomes last week's CPI data but notes modest overall progress on inflation. He forecasts slowing but above-trend growth, a modest rise in the unemployment rate, and a long glide back to 2% inflation.
June 17, 2024 | 5:02 pm
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NEUTRAL IMPACT
Fed's Harker's comments on modest inflation progress and economic forecasts could lead to cautious sentiment among investors, potentially impacting SPY.
Harker's comments suggest a cautious economic outlook, which may lead to mixed investor sentiment. While the CPI data is positive, the overall modest progress on inflation and forecasted economic conditions could result in a neutral short-term impact on SPY.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50