Fed's Powell Says In 2021, Inflation Was Coming From Strong Demand For Goods; In 2022 And Now In 2023, Many Analysts Believe Getting Wage Growth Down Is Important For Getting Inflation Down
Portfolio Pulse from Benzinga Newsdesk
Fed Chairman Powell stated that inflation in 2021 was driven by strong demand for goods, while in 2022 and 2023, many analysts believe reducing wage growth is crucial for lowering inflation.
June 14, 2023 | 7:00 pm
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Fed's Powell's comments on inflation and wage growth may impact the overall market sentiment, potentially affecting the SPY ETF.
Fed Chairman Powell's comments on inflation and wage growth can influence market sentiment and expectations about future monetary policy. This may lead to fluctuations in the overall market, which could affect the SPY ETF, as it tracks the performance of the S&P 500 Index. However, the direct impact on SPY is uncertain, as it depends on how investors interpret and react to Powell's statements.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50