Fed's Bostic Says Recent Inflation Data Gives Confidence We Can Return To 2%; Waiting For More Data To Ensure Trend Is Real; Willing To Wait For First Rate Cut But Expecting It By Year-End If Economy Evolves As Expected; Concerned About Cutting Rates Too Soon And Then Raising Them Again; Current Inflation Levels Not Sustainable
Portfolio Pulse from Benzinga Newsdesk
Fed's Bostic expressed confidence in returning to 2% inflation based on recent data but emphasized the need for more data to confirm the trend. He is willing to wait for the first rate cut, expecting it by year-end if the economy evolves as expected. Bostic is concerned about cutting rates too soon and then having to raise them again, noting that current inflation levels are not sustainable.
August 13, 2024 | 5:49 pm
News sentiment analysis
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POSITIVE IMPACT
Fed's Bostic's comments on inflation and interest rates could impact SPY. Confidence in returning to 2% inflation and potential rate cuts by year-end may boost investor sentiment.
Bostic's confidence in achieving the 2% inflation target and the potential for rate cuts by year-end could positively influence investor sentiment towards SPY. However, the need for more data and concerns about premature rate cuts add some uncertainty.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80