Fed's Daly Says Inflation Data Shows It's Cooling, Policy Is Working As Expected; Fed Is Not Done Yet, But PCE Data Is 'Good News'; Getting Evidence That Policy Is Tight Enough; Taking Longer For Policy To Work, But It Is Working; If Inflation Stays Sticky Or Comes Down Slowly, Rates Would Need To Be Higher For Longer
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Daly indicates that recent inflation data shows signs of cooling, suggesting that current monetary policies are effective. However, the Fed is not finished with its efforts, and if inflation remains persistent, interest rates may need to stay elevated for a longer period.
June 28, 2024 | 12:58 pm
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NEUTRAL IMPACT
The Federal Reserve's indication that inflation is cooling and policies are working as expected is positive news for the market. However, the potential for prolonged higher interest rates if inflation remains sticky could create uncertainty.
The news suggests that the Fed's policies are effective, which is generally positive for the market. However, the caution about potentially higher rates for a longer period introduces some uncertainty, balancing the overall impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50