Powell Says Cannot Guarantee That Restoring Price Stability Wouldn't Increase Unemployment
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that restoring price stability might lead to increased unemployment, as he cannot guarantee that both objectives can be achieved simultaneously.
June 22, 2023 | 3:10 pm
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NEGATIVE IMPACT
Powell's statement on the potential trade-off between price stability and unemployment may cause uncertainty in the market, potentially impacting the SPY ETF.
Powell's statement highlights the difficulty in achieving both price stability and low unemployment, which may cause investors to worry about the future direction of monetary policy. This uncertainty could lead to increased volatility in the stock market, potentially impacting the performance of the SPY ETF.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50