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SPY

Federal Reserve Chairman Jerome Powell stated that the future of mortgage rates is uncertain and will depend on economic conditions. He acknowledged a recent surge in inflation, similar to other countries, and noted that raising interest rates was part of the response.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 7:11 pm

SPY

Federal Reserve Chair Jerome Powell indicated that the neutral interest rate is likely higher than pre-pandemic levels and dismissed the possibility of returning to negative rates for long-term bonds. He emphasized that the Fed's decisions are based on serving the American people, not politics.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 7:02 pm

SPY

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.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 6:49 pm

SPY

Federal Reserve Chair Jerome Powell stated that the pace of interest rate cuts will be determined on a meeting-by-meeting basis, emphasizing a cautious approach. He expressed satisfaction with the recent 50 basis point cut and highlighted the solid condition of the labor market.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 6:46 pm

SPY

Federal Reserve Chair Powell indicated that the size of the rate cut was left open as the committee entered its blackout period. There was broad support for a 50 basis points cut, despite some dissent and a range of views among committee members.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 6:45 pm

SPY

Federal Reserve Chair Jerome Powell stated that the Fed's projections are baseline and actual actions will depend on economic developments. The Fed may adjust the pace of rate cuts, including speeding up, slowing down, or pausing, based on appropriateness.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 6:41 pm

SPY

Federal Reserve Chair Jerome Powell stated that since the last meeting, a significant amount of data has been reviewed, leading to the decision of a 50 basis points rate cut. The Fed is recalibrating its policy stance, with no indication of urgency in their projections.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 6:41 pm

SPY

Federal Reserve Chair Powell announced a 50 basis point rate cut, citing a more balanced supply and demand, reduced inflation risks, and increased labor market risks. The Fed's patient approach has been effective, bringing inflation closer to its target.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 6:36 pm

SPY

Federal Reserve Chairman Jerome Powell emphasized the Fed's commitment to maintaining economic strength, highlighting a strong overall economy and labor market. The Fed has reduced policy restraint, reflecting confidence in sustaining labor market strength.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 6:32 pm