Fed's Musalem Says He Will Remain Vigilant Until Inflation Is Clearly And Convincingly Is Well On Its Way Back To 2%; Retail Sales Data For May Suggests Aggregate Demand Is Growing At Moderate Pace So Far In Q2; He Expects Aggregate Consumption To Moderate In Coming Quarters Without Stalling And Then Return To Or Slightly Exceed Trend By 2026; Labor Market No Longer Seems Overheated But Remains Tight
Portfolio Pulse from Benzinga Newsdesk
Fed's Musalem emphasizes vigilance on inflation until it convincingly trends back to 2%. May retail sales data indicates moderate growth in aggregate demand for Q2. Musalem expects consumption to moderate in the coming quarters and return to trend by 2026. The labor market is tight but not overheated.
June 18, 2024 | 5:22 pm
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NEUTRAL IMPACT
The Fed's vigilant stance on inflation and moderate growth in retail sales suggest a cautious but stable economic outlook. This could lead to steady performance for SPY in the short term.
The Fed's focus on controlling inflation and the moderate growth in retail sales indicate a balanced economic environment. This suggests that SPY, which tracks the S&P 500, may experience stable performance in the short term.
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IMPORTANCE 70
RELEVANCE 80