Fed Chair Powell Says In The Median Forecast Don't See A Big Increase In Unemployment, But That Is Not Guaranteed
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell has stated that the median forecast does not predict a significant increase in unemployment. However, he also noted that this is not guaranteed.
September 20, 2023 | 6:50 pm
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NEUTRAL IMPACT
The statement by Fed Chair Powell may impact the SPY ETF. The uncertainty around unemployment rates could influence investor sentiment.
The SPY ETF, which tracks the S&P 500, could be influenced by the uncertainty around unemployment rates. If unemployment rates rise, it could negatively impact the economy and thus the S&P 500. However, Powell's statement does not definitively predict a rise in unemployment, leaving the impact on SPY uncertain.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50