Fed's Powell Says Fed's Ambition Is A Sustained Strong Labor Market; To Get That Price Stability Is Needed, Fed Is Very Focused On Achieving That; As Expansions Get Longer And Longer More Wage Gains Go To The Lower Part Of The Income Spectrum
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell has stated that the Fed's ambition is to maintain a strong labor market, which requires price stability. He also noted that as economic expansions continue, more wage gains are seen in the lower part of the income spectrum.
October 02, 2023 | 4:18 pm
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NEUTRAL IMPACT
The Federal Reserve's focus on price stability and a strong labor market could influence the overall market, potentially impacting the SPY ETF.
The Federal Reserve's policies have a broad impact on the economy and can influence market sentiment. While the SPY ETF is not directly mentioned, it represents a broad swath of the market and could be affected by these policies. However, the exact impact is uncertain, hence a neutral score.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50