Fed's Powell Says Nominal Wage Growth Has Shown Some Signs Of Easing; Labor Demand Still Exceeds Supply; Inflation Remains Well Above Target; Inflation Has Moderated Since Middle Of Last Year;
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that nominal wage growth has shown signs of easing, while labor demand continues to exceed supply. He also noted that inflation remains above the target, but has moderated since the middle of last year.
November 01, 2023 | 6:34 pm
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NEUTRAL IMPACT
The comments from Fed's Powell about easing wage growth, high labor demand, and moderating inflation could impact the SPY ETF, which tracks the S&P 500 index.
The Federal Reserve's policies and comments can significantly influence the overall market sentiment, which is reflected in broad market indices like the S&P 500. Therefore, any changes in wage growth, labor demand, and inflation could potentially impact the performance of the SPY ETF.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75