Powell Says This Economy Is Very Strong; Very Strong Labor Market Is Driving The Economy; Inflation Is Moving Down Gradually; The Thing That Troubles People Is Really Inflation; It's Our Job To Bring Inflation Down
Portfolio Pulse from Happy Mohamed
Federal Reserve Chair Jerome Powell stated that the US economy is very strong, driven by a robust labor market. He also mentioned that inflation is gradually decreasing, and it's the Fed's responsibility to bring it down.
June 21, 2023 | 3:32 pm
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POSITIVE IMPACT
Fed Chair Jerome Powell's comments on the strong US economy and decreasing inflation may positively impact the SPY ETF in the short term.
Jerome Powell's comments on the strong US economy and decreasing inflation indicate a positive outlook for the overall market. As SPY is an ETF that tracks the S&P 500, it is likely to be positively impacted by this news in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50