Fed Chair Powell Says Inflation May Get Back To 2% Late Next Year Or The Following Year
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell stated that inflation might return to the 2% target by late next year or the following year. This statement could influence market expectations and investor sentiment.
July 02, 2024 | 1:51 pm
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NEUTRAL IMPACT
The statement by Fed Chair Powell about inflation potentially returning to 2% by late next year or the following year could influence the SPDR S&P 500 ETF (SPY). This may affect market expectations and investor sentiment, potentially leading to short-term volatility.
Powell's comments on inflation are significant for the broader market, which SPY tracks. While the news is important, the exact timing and market reaction are uncertain, leading to a neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50