Fed's Powell Says Countries With Central Banks Independent From Direct Control By Politicians Have Better Inflation Outcomes; Says Asked About Fed Independence, Says He Strongly Believes It Will Continue
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell emphasized the importance of central bank independence from political control, stating that such independence leads to better inflation outcomes. He expressed strong belief in the continuation of the Federal Reserve's independence.
September 18, 2024 | 7:16 pm
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The statement by Fed Chair Powell on the importance of central bank independence could reassure investors about the stability of monetary policy, potentially impacting the SPY ETF, which tracks the S&P 500.
Powell's comments on central bank independence suggest stability in monetary policy, which is generally positive for market sentiment. This could lead to a short-term positive impact on SPY, as it reflects investor confidence in the economic environment.
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