Fed's Chair Powell Says Labor Demand Still Substantially Exceeds Supply
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell has stated that labor demand in the U.S. still substantially exceeds supply, according to Reuters.
July 26, 2023 | 6:34 pm
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NEUTRAL IMPACT
The statement by Fed Chair Powell about labor demand exceeding supply could impact the SPY ETF, as it reflects broader economic conditions.
The labor market conditions are a key indicator of the overall health of the economy. A labor demand that substantially exceeds supply could indicate potential inflationary pressures, which could impact the Federal Reserve's monetary policy decisions. These decisions, in turn, could affect the broader market, and thus the SPY ETF.
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IMPORTANCE 70
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