Fed's Cook Says Progress On Inflation Has Slowed, But Expect Disinflation Trend To Continue; Expect 3- And 6-Month Inflation Rates To Move Lower On A Bumpy Path; See 12-Month Inflation Moving Sideways Rest Of This Year, Slowing More Sharply Next Year; Job Market Is Tight But Not Overheated; Monthly Job Gains Needed To Keep Unemployment Rate Steady Likely Has Doubled To Nearly 200,000
Portfolio Pulse from Benzinga Newsdesk
Fed's Cook indicates that while progress on inflation has slowed, the disinflation trend is expected to continue. Short-term inflation rates are predicted to decrease on a bumpy path, with 12-month inflation moving sideways for the rest of the year and slowing more sharply next year. The job market is tight but not overheated, with monthly job gains needed to keep the unemployment rate steady likely doubling to nearly 200,000.
June 25, 2024 | 4:12 pm
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NEUTRAL IMPACT
The Fed's outlook on inflation and the job market suggests a mixed short-term impact on SPY. While disinflation is expected to continue, the bumpy path and sideways movement of 12-month inflation could create volatility.
The Fed's mixed outlook on inflation and the job market suggests that while there is a positive long-term trend, the short-term could see volatility. This could result in a neutral short-term impact on SPY.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80