Fed's Powell Says Chances Of Hard Landing Are Now; Economy Is Neither Overheating Nor Sharply Weakening; We Must Be Humble About Giving Forward Guidance; Nobody Has Great Vision Deep Into The Future
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Jerome Powell stated that the chances of a hard landing for the economy are now, indicating that the economy is neither overheating nor sharply weakening. He emphasized the need for humility in providing forward guidance, acknowledging the difficulty in predicting the future.
July 31, 2024 | 7:16 pm
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NEUTRAL IMPACT
Fed Chair Jerome Powell's comments suggest a balanced economic outlook, which may lead to short-term stability in the SPY ETF. His emphasis on humility in forward guidance indicates cautious optimism.
Powell's comments indicate that the economy is not in a state of extreme flux, which suggests that the SPY ETF may experience stability in the short term. His cautious approach to forward guidance further supports a neutral outlook.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80