Fed's Bowman Says Congress Lacks Appetite For Central Bank Digital Currency; Strays From Reagan-Era 'Strength In Leadership'; Notes Strong Employment But Inflation Goal Not Yet Reached; Pledges Continued Efforts Toward Inflation Goal At Fed's Pace
Portfolio Pulse from Benzinga Newsdesk
Fed's Bowman indicates that Congress is not interested in pursuing a Central Bank Digital Currency. She also mentions strong employment figures but notes that the inflation goal has not yet been reached. The Fed will continue its efforts to achieve its inflation target at its own pace.
June 28, 2024 | 5:00 pm
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POSITIVE IMPACT
The Fed's continued focus on achieving its inflation goal and the lack of interest in a Central Bank Digital Currency could lead to market stability in the short term. Strong employment figures are a positive sign for the economy.
The Fed's commitment to its inflation goal and the positive employment data suggest a stable economic outlook, which is likely to have a positive impact on the SPY ETF in the short term.
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IMPORTANCE 70
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