Fed's Daly Says Monetary Policy Is Working; Anticipate Generative Ai Will Boost Productivity, But Way Too Early To Speculate On Effects; Inflation Is Still Too High; My Job Is To Get Inflation To 2% As Gently As Possible; We'll Continue To See Inflation Print Above 2% Through 2025
Portfolio Pulse from Benzinga Newsdesk
In a CNBC interview, Fed's Daly stated that monetary policy is working but inflation remains too high. She aims to reduce inflation to 2% as gently as possible, expecting inflation to stay above 2% through 2025. Daly also mentioned that while generative AI could boost productivity, it's too early to speculate on its effects.
June 28, 2024 | 12:59 pm
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NEUTRAL IMPACT
Fed's Daly's comments on inflation and monetary policy suggest continued vigilance on inflation control, which could impact market sentiment and SPY's performance.
Daly's comments indicate a cautious approach to inflation control, which could lead to market uncertainty. SPY, as a broad market ETF, may experience volatility based on investor sentiment towards these statements.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50