Fed's Logan Says Inflation Still Too High, But Have Made Tremendous Progress; May CPI Data Was Welcome News; 'Great To See' CPI Data, Will Need To See 'Several More Months' To Have Confidence Heading To 2%; Will Be Watching Data In Coming Months Quite Closely
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Logan stated that inflation remains too high, but significant progress has been made in controlling it.
June 18, 2024 | 5:27 pm
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NEUTRAL IMPACT
The Federal Reserve's comments on inflation being too high but showing progress could lead to short-term volatility in SPY as investors react to potential future monetary policy adjustments.
The statement from the Federal Reserve indicates ongoing concerns about inflation, which could influence investor sentiment and lead to short-term fluctuations in SPY. However, the acknowledgment of progress may temper extreme reactions.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50