Fed Chair Powell Says Colleagues And I Have Greater Confidence Inflation Is On Sustainable Path To 2%; Disinflation 'Broad Based,' Recent Data Indicate Further Progress Toward Sustained Return To 2%; Housing Services Inflation Will Continue To Decline As Long As Growth Rate In Rents For New Tenants Remains Low; 50 BPs Rate Cut Reflects Growing Confidence That Appropriate Policy Recalibration Can Maintain Labor Market Strength And Inflation Moving Toward Goal
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell expressed confidence that inflation is on a sustainable path to 2%, with disinflation being broad-based. A 50 basis points rate cut reflects confidence in maintaining labor market strength and achieving inflation goals.
September 30, 2024 | 5:57 pm
News sentiment analysis
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) may experience positive sentiment as Fed Chair Powell expresses confidence in inflation control and a 50bps rate cut, indicating a supportive monetary policy environment.
The Fed's confidence in inflation control and a rate cut suggests a supportive environment for equities, potentially boosting SPY. The ETF is sensitive to macroeconomic policy changes, and a dovish stance by the Fed is generally positive for stock markets.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80