Fed Chair Powell Says We Do Expect The Unemployment Rate Will Go Up A Little Bit; Ideally Most Of Labor Market Loosening Will Come In Other Ways; I Think There Is A Path To A Soft Landing
Portfolio Pulse from Happy Mohamed
Fed Chair Powell expects the unemployment rate to rise slightly, but hopes most labor market loosening will occur in other ways. He believes there is a path to a soft landing.
June 22, 2023 | 2:50 pm
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NEUTRAL IMPACT
Fed Chair Powell's comments on unemployment rate and labor market may impact the overall market sentiment, potentially affecting SPY.
Powell's comments on the unemployment rate and labor market can affect overall market sentiment. While he expects a slight increase in unemployment, he also sees a path to a soft landing. This mixed outlook may lead to a neutral impact on the SPY ETF, which tracks the S&P 500.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50