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SPY

Fed Chair Powell stated that the speed of rate hikes is separate from the level of rates, and that the Fed is not far from its destination on Fed funds rates. He suggested it's reasonable to go slower as they approach the rates destination.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 6:47 pm

SPY

Federal Reserve Chair Jerome Powell stated that the labor market conditions need to continue loosening and the factors required for disinflation are coming into play, but the process will take some time.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 6:46 pm

SPY

Federal Reserve Chair Jerome Powell stated that any forecast about inflation decreasing this year will include a significant amount of housing disinflation. He also mentioned that housing services disinflation will be slower than expected.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 6:46 pm

SPY

Fed Chair Powell stated that the current 5.6% level is consistent with where it was trading before the banking turmoil in March.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 6:45 pm

SPY

Federal Reserve Chair Jerome Powell stated that the data since the last meeting has come in on the high side of expectations, indicating a stronger economic recovery.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 6:44 pm

SPY

Federal Reserve Chair Jerome Powell stated that the Fed did not discuss whether to switch to an every-other-meeting approach and made no decision about the July meeting, which will be a live meeting.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 6:44 pm

SPY

Federal Reserve Chair Jerome Powell stated that the main issue is determining the extent of additional tightening, suggesting that it may make sense for interest rates to move higher but at a more moderate pace.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 6:43 pm

SPY

Fed Chair Powell stated that Fed projections are not a plan or decision, and decisions will be made on a meeting-by-meeting basis. Reducing inflation may require below-trend growth and some softening of labor conditions.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 6:43 pm

SPY

Federal Reserve Chairman Jerome Powell announced that the Fed has decided to hold interest rates steady, citing the rapid and significant changes in the economy.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 6:42 pm

SPY

Federal Reserve Chair Jerome Powell stated that it will take time for the full effects of monetary restraint to be realized, particularly on inflation.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 6:42 pm