Fed's Powell Says Not A Single Person Wrote Down A Rate Cut This Year; Rate Cuts This Year Will Not Be Appropriate; No Policymakers See Rate Cuts This Year; It's A Very Very Tight Labor Market
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that no policymakers foresee rate cuts this year, and they would not be appropriate. He also emphasized the tight labor market.
June 14, 2023 | 7:12 pm
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Fed's Powell says no rate cuts this year, indicating a stable interest rate environment. The tight labor market may impact companies' ability to hire.
The absence of rate cuts this year suggests a stable interest rate environment, which may not have a significant short-term impact on the SPY ETF. However, the tight labor market could affect companies' ability to hire, potentially impacting their growth and stock prices.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50