Fed's Powell Says Signs Job Market Not Cooling Could Also Warrant More Fed Action; Sees Evidence Inflation Becoming More Responsive To Labor Markets; Sees July PCE At 3.3%, Core At 4.3%
Portfolio Pulse from Happy Mohamed
Federal Reserve Chairman Jerome Powell has indicated that signs of the job market not cooling could warrant further action from the Fed. He also noted that inflation appears to be becoming more responsive to labor markets. Powell projected July's Personal Consumption Expenditures (PCE) at 3.3% and core PCE at 4.3%.

August 25, 2023 | 2:07 pm
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NEUTRAL IMPACT
The comments from Fed's Powell could impact the SPY ETF. If the Fed takes action due to the job market not cooling, it could lead to changes in interest rates, affecting the stock market and SPY.
The Federal Reserve's actions often have a significant impact on the stock market. If the Fed takes action due to the job market not cooling, it could lead to changes in interest rates. This could cause volatility in the stock market, which would impact the SPY ETF, as it tracks the S&P 500.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50