Fed Chair Powell Says Overall The Price Level Has Not Come Down, People Are Still Living With High Prices, That Is Something People Don't Like; Positive Real Wages Might Improve Consumer Sentiment
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell acknowledged that price levels remain high and this is negatively impacting consumer sentiment. He noted that an improvement in real wages could potentially boost consumer sentiment.
December 13, 2023 | 7:59 pm
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NEUTRAL IMPACT
Fed Chair Powell's comments on persistent high prices and the potential for improved consumer sentiment through positive real wages may influence market sentiment and thus impact SPY.
Powell's comments reflect ongoing concerns about inflation, which can lead to market uncertainty. However, the mention of positive real wages as a potential boost to consumer sentiment could have a balancing effect. The impact on SPY, which tracks the broader market, is likely to be mixed in the short term, reflecting these opposing factors.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70