Fed's Kugler Says 'Pleased' That Cooling Of Labor Demand Has Not Led To Rise In Layoffs; How Spending Momentum Will Evolve This Year 'An Open Question' Affecting Disinflationary Process
Portfolio Pulse from Benzinga Newsdesk
Fed's Kugler expressed satisfaction that the cooling of labor demand has not resulted in increased layoffs, but noted that the evolution of spending momentum throughout the year remains uncertain and could impact the disinflationary process.
February 07, 2024 | 4:04 pm
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NEUTRAL IMPACT
Fed's Kugler's comments on labor demand and spending momentum may influence investor sentiment, potentially affecting SPY as it reflects the broader market.
Kugler's comments indirectly affect SPY by influencing investor sentiment regarding the economic outlook. While the comments are somewhat positive, the uncertainty about spending momentum introduces volatility, making the short-term impact neutral.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70