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SPY

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.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 7:16 pm

HOOD

Robinhood Markets Inc (NASDAQ:HOOD) shares rose by 2.61% following a 50 basis point interest rate cut by the Federal Reserve. The rate cut benefits Robinhood by increasing user engagement and transaction volumes, making margin accounts more attractive, and improving the valuation of growth stocks like Robinhood.

Portfolio Pulse from Henry Khederian

September 18, 2024 | 7:15 pm

SPY

Federal Reserve Chairman Jerome Powell stated that there is no specific threshold or 'bright line' for labor market conditions that would trigger a change in monetary policy. This suggests a flexible approach to economic indicators, which could impact market expectations.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 7:14 pm

SPY

Federal Reserve Chairman Jerome Powell acknowledges the pain caused by high prices and indicates that the Fed will adjust payroll numbers based on the Quarterly Census of Employment and Wages (QCEW).

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 7:14 pm

SPY

Federal Reserve Chairman Jerome Powell stated that while interest rate hikes are not pleasant for people, they are necessary to bring down inflation. This statement highlights the Fed's commitment to controlling inflation, which may impact market sentiment and interest rate-sensitive assets.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 7:11 pm

SPY

Federal Reserve Chairman Jerome Powell stated that the Fed might have cut rates in July if they had the current jobs data at that time. The decision to move was unanimously agreed upon by the committee, and today's decision had broad support at the FOMC.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 7:10 pm

SPY

Federal Reserve Chair Jerome Powell stated that addressing supply issues is a task for both the market and the government. He emphasized that the Fed's recent actions are timely in response to current economic conditions.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 7:09 pm

SPY

Federal Reserve Chairman Jerome Powell highlighted that the primary issue with the housing market is a lack of supply, which the Fed cannot address. He mentioned that as interest rates normalize, the housing market is expected to stabilize.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 7:08 pm

SPY

Federal Reserve Chairman Jerome Powell stated that the housing market is currently stagnant due to high interest rates. However, he noted that as rates decrease, there is already a trend of increased movement and sales in the housing market.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 7:07 pm

SPY

Federal Reserve Chairman Jerome Powell expressed confidence in achieving a 2% inflation target, including addressing housing services inflation. This suggests a stable economic outlook.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 7:07 pm