Fed: Inflation Has Made Further Progress Toward 2% Objective, Remains 'Somewhat Elevated'; Has Gained Greater Confidence In Inflation Moving Sustainably Toward 2%, Judges Risks To Employment And Inflation Goals Roughly In Balance; Will Carefully Assess Incoming Data, Evolving Outlook And Balance Of Risks In Considering Additional Rate Adjustments; Economic Outlook Is Uncertain
Portfolio Pulse from Benzinga Newsdesk
The Federal Reserve reports that inflation is making progress towards the 2% target but remains somewhat elevated. The Fed is more confident in inflation moving sustainably towards this goal, with risks to employment and inflation goals balanced. Future rate adjustments will depend on incoming data and the evolving economic outlook, which remains uncertain.
September 18, 2024 | 6:02 pm
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NEUTRAL IMPACT
The Federal Reserve's statement on inflation progress and balanced risks may impact SPY, as it reflects the broader market's response to potential future rate adjustments. The economic outlook remains uncertain, which could lead to volatility.
SPY, as an ETF that tracks the S&P 500, is sensitive to Federal Reserve announcements. The Fed's balanced view on inflation and employment, along with the uncertainty in the economic outlook, suggests a neutral short-term impact. However, potential rate adjustments could lead to market volatility, affecting SPY.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50