Fed Chair Powell Says Inflation Has Come Down, Remains Well Above 2% Target; Says Gratified By Inflation Progress, But Still 'Long Way To Go'; Says Labor Market Remains Tight, But Moving Into Better Balance
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair, Powell, has stated that inflation has decreased but remains above the 2% target. He expressed satisfaction with the progress made on inflation but acknowledged there is still a 'long way to go'. He also noted that the labor market remains tight, but is moving towards a better balance.
November 09, 2023 | 7:05 pm
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NEUTRAL IMPACT
The statements by Fed Chair Powell on inflation and labor market conditions could impact the SPY ETF. The news of inflation remaining above target could potentially lead to uncertainty in the market.
The SPY ETF, which tracks the S&P 500, could be impacted by the Fed Chair's comments. Inflation remaining above the target could lead to uncertainty in the market, potentially affecting the ETF's performance. However, the impact is not certain and could be neutral in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75