Fed's Waller Signals Caution On Interest-Rate Cuts: 'Latest Inflation Data Was Disappointing'
Portfolio Pulse from Piero Cingari
Federal Reserve Governor Christopher J. Waller expressed caution over interest rate cuts due to disappointing inflation data, despite strong economic growth. The U.S. dollar index rose, and the S&P 500 index extended its record highs.
October 14, 2024 | 9:58 pm
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POSITIVE IMPACT
The S&P 500 index, monitored via the SPDR S&P 500 ETF Trust (SPY), gained 0.8% to close at 5,859 points, extending its record highs.
Despite Waller's cautious tone, the S&P 500 index rose, indicating investor confidence in the market's resilience and potential for growth.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The U.S. dollar index, tracked by the Invesco DB USD Index Bullish Fund ETF (UUP), rose 0.3% following Waller's remarks, reaching its highest level since late July.
Waller's cautious stance on interest rate cuts due to inflation concerns led to a rise in the U.S. dollar index, benefiting UUP as it tracks the index.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80