Fed Chair Powell Says If The Fed Waits For Inflation To Get To 2% To Cut It Has Waited Too Long; The Test Is That Officials Want To Be Confident It Is Moving Down; More Good Data Will Add To Confidence And Lately The Fed Has Been Getting That
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell stated that waiting for inflation to reach 2% before cutting rates would be too late. The Fed wants to be confident that inflation is moving down, and recent data has been positive in this regard.
July 15, 2024 | 4:45 pm
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POSITIVE IMPACT
Fed Chair Powell's comments suggest a potential for earlier-than-expected rate cuts if inflation continues to show signs of decreasing. This could positively impact SPY in the short term.
Powell's indication that the Fed may cut rates sooner if inflation data remains positive suggests a favorable environment for equities, which could lead to a short-term increase in SPY.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 80