Fed's Bostic Says Number On Inflation Over Last Couple Of Months Have Made Me More Confident It's Returning To 2%; We Still Have A Ways To Go On Inflation Though, Don't Assume We Are Done; You Can't Ignore The Data, Takes Us Closer To Moving; I Just Want To Make Sure Next Couple Of Data Points Are Consistent With That
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Raphael Bostic expressed increased confidence in inflation returning to the 2% target, based on recent data. However, he cautioned that the journey is not over and emphasized the importance of upcoming data points.
August 23, 2024 | 12:44 pm
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SPY, an ETF that tracks the S&P 500, may experience volatility as Fed's Bostic expresses confidence in inflation trends but warns the journey isn't over. Upcoming data will be crucial for market direction.
Bostic's comments suggest a cautious optimism about inflation, which could lead to mixed market reactions. SPY, representing the broader market, may see volatility as investors digest these comments and await further data.
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