Fed's Powell Says Lowering Inflation Also Likely To Require Softer Labor Markets
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell has indicated that reducing inflation may also necessitate softer labor markets. This could potentially impact the overall economy and the stock market.
August 25, 2023 | 2:09 pm
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The statement by Fed's Powell about the need for softer labor markets to reduce inflation could potentially impact the SPY ETF, which tracks the S&P 500 and is a broad indicator of the US stock market.
The SPY ETF, which tracks the S&P 500, could be impacted by Powell's statement as it suggests potential changes in the economic environment that could affect the overall stock market. Softer labor markets could lead to lower consumer spending, which could negatively impact companies' revenues and, consequently, their stock prices.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80