Fed's Harker Says Wage Pressures Elevated But Are Moderating
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Bank of Philadelphia President Patrick Harker stated that wage pressures are elevated but are moderating. This statement could influence the market's expectations about future monetary policy decisions.
October 13, 2023 | 1:56 pm
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NEUTRAL IMPACT
The statement by Fed's Harker about moderating wage pressures could influence market expectations about future monetary policy decisions, potentially affecting the SPY ETF.
The SPY ETF, which tracks the S&P 500, could be influenced by changes in market expectations about future monetary policy. If the market perceives that the Federal Reserve is less likely to raise interest rates due to moderating wage pressures, this could potentially lead to a positive impact on the SPY ETF. However, the impact is uncertain and depends on various other factors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50