Fed Chair Powell Says Nominal Wage Growth Has Shown Some Signs Of Easing; Labor Demand Still Exceeds Supply; Expect Labor Market Rebalancing To Continue
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell has stated that nominal wage growth has shown signs of easing, despite labor demand still exceeding supply. He expects the labor market rebalancing to continue.
September 20, 2023 | 6:34 pm
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NEUTRAL IMPACT
The comments from Fed Chair Powell about the labor market could influence investor sentiment and impact the SPY ETF, which tracks the S&P 500.
The labor market conditions can influence the Federal Reserve's monetary policy decisions, which in turn can impact the broader market and the SPY ETF. However, the direct impact of these comments on SPY is uncertain in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50