Fed Chair Powell Says Our Patience Has Paid Dividends In Our Confidence On Inflation; No One Should Look At Today And Think This Is The New Pace; We Have Waited As Other Central Banks Have Cut; I Do Not Think That Anyone Should Think This Is New Pace; We Are Moving At The Base That We Think Is Appropriate
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell stated that the Fed's patience has bolstered confidence in managing inflation. He emphasized that the current pace of monetary policy should not be seen as a new standard, as the Fed has chosen to wait while other central banks have cut rates.
September 18, 2024 | 6:49 pm
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NEUTRAL IMPACT
The Federal Reserve's decision to maintain its current pace in managing inflation, as stated by Chair Powell, may impact the SPDR S&P 500 ETF (SPY) by influencing investor sentiment on interest rates and economic stability.
The SPDR S&P 500 ETF (SPY) is sensitive to Federal Reserve policies as they affect interest rates and economic outlook. Powell's comments suggest a steady approach, which may stabilize investor sentiment but not lead to immediate price changes.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50