Fed's Powell Says There Are Many Signs Labor Market Getting Back Into Balance; Wage Increases Are Moderating, Job Openings Weakening; The Labor Market Is Gradually Cooling; There's Been New Labor Market Supply
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell has indicated that the labor market is gradually cooling, with many signs of it getting back into balance. He noted that wage increases are moderating and job openings are weakening, suggesting a new labor market supply.
October 19, 2023 | 4:52 pm
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The comments from Fed's Powell about the labor market cooling could impact the broader market, represented by SPY. A cooling labor market could lead to slower economic growth, potentially affecting stock prices.
The labor market is a key indicator of economic health. A cooling labor market could indicate slower economic growth, which could negatively impact stock prices. As SPY represents the broader market, it could be affected by these developments.
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