Fed's Powell Says We Know Understand It Will Take Some Time For Lower Market Rents To Filter Through; Says Direction Of Travel On Rents Is Clear; Says Direction Of Travel Is Clear Though, Even Though It May Take Several Years
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that it will take time for lower market rents to impact the economy, but the direction is clear. This suggests a gradual economic adjustment over several years.
September 18, 2024 | 7:06 pm
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NEUTRAL IMPACT
The statement by Fed Chair Powell about the gradual impact of lower market rents suggests a slow economic adjustment, which could lead to a stable or slightly positive outlook for SPY in the short term.
Powell's comments indicate a clear but slow economic adjustment due to lower market rents. This suggests stability in the broader market, which SPY tracks, leading to a neutral short-term impact.
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