Fed's Kugler Says Inflation Has Continued To Trend Down, Despite 'A Few Bumps' At Start Of This Year; Inflation Remains Above U.S. Central Bank's Target; Supply And Demand Are Gradually Coming Into Better Balance; Labor Market Has Seen Substantial Rebalancing; Continued Labor Market Rebalancing Suggests Inflation Will Continue To Move Toward 2% Target
Portfolio Pulse from Benzinga Newsdesk
Fed's Kugler states that inflation is trending down despite some early-year bumps, but it remains above the central bank's target. Supply and demand are balancing better, and the labor market has seen substantial rebalancing, suggesting inflation will continue moving toward the 2% target.
July 16, 2024 | 6:47 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) may see positive short-term impacts as Fed's Kugler indicates inflation is trending down and the labor market is rebalancing, suggesting a move toward the 2% inflation target.
The Fed's positive outlook on inflation and labor market rebalancing suggests a favorable economic environment, which is likely to boost investor confidence in the broader market, positively impacting SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80