Fed's Kashkari Says Likely To Take A Year Or Two To Bring Inflation Back To 2%; Wage Growth Might Still Be A Bit Too High To Achieve 2% Inflation Currently
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Neel Kashkari stated that it might take a year or two to bring inflation back to the 2% target. He also mentioned that current wage growth might be too high to achieve this inflation goal.
June 20, 2024 | 1:05 pm
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The statement from Fed's Kashkari suggests a prolonged period of monetary tightening, which could impact the stock market negatively in the short term. SPY, as a broad market ETF, may see increased volatility and potential downward pressure.
Kashkari's comments imply that the Federal Reserve may continue with tight monetary policies for an extended period. This could lead to increased market volatility and potential downward pressure on broad market indices like SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80