Fed's Waller Says He Will Be Looking For Data Over Next Two Months To Support His View; Recent Inflation Data Boosts Confidence In Achieving Inflation Goal; Needs More Evidence On Sustained Monthly Personal Consumption Expenditures Inflation; Moderate Consumption Growth May Continue In Second Half Due To Strong Personal Income Data; Labor Supply And Demand Are Roughly Balanced; Sees More Upside Risk To Unemployment Than In A Long Time; Wage Growth Slows To Support 2% Inflation
Portfolio Pulse from Benzinga Newsdesk
Fed's Waller indicates he will be looking for data over the next two months to support his view on inflation. Recent data boosts confidence in achieving the inflation goal, but more evidence is needed on sustained monthly personal consumption expenditures inflation. Moderate consumption growth may continue due to strong personal income data. Labor supply and demand are balanced, but there is more upside risk to unemployment. Wage growth is slowing, supporting a 2% inflation target.
July 17, 2024 | 1:36 pm
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NEUTRAL IMPACT
Fed's Waller's comments on monitoring data over the next two months and recent inflation data boosting confidence in achieving the inflation goal could impact SPY. The balanced labor supply and demand, along with moderate consumption growth, suggest a stable economic outlook, but the upside risk to unemployment and slowing wage growth could introduce volatility.
The balanced labor market and moderate consumption growth suggest a stable economic outlook, which is generally positive for SPY. However, the upside risk to unemployment and the need for more evidence on sustained inflation could introduce some volatility, leading to a neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50