Fed's Powell Says We Expect Wages Not To Fall, But To Grow More Slowly; We Will Want To See Gradual Slowdown In Wage Growth As Part Of Process To Bring Down Inflation; Dynamics In Labor Market Is Central To Our Discussions
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that they expect wages not to fall, but to grow more slowly. He added that a gradual slowdown in wage growth is necessary to bring down inflation, and labor market dynamics are central to their discussions.
June 14, 2023 | 7:16 pm
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NEUTRAL IMPACT
Fed's Powell expects wages to grow more slowly, not fall, and sees a gradual slowdown in wage growth as necessary to bring down inflation. This may impact the overall market sentiment.
The statement by Fed's Powell regarding wage growth and inflation may have an indirect impact on the overall market sentiment, which is reflected in the SPY ETF. However, the direct impact on SPY is not clear, and the market may react differently based on other factors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50