Fed's Powell Says I Do Think Policy Is Restrictive And Is Weighing On Demand; You Can See That With The Labor Marketl Saw Evidence Of That Today In The Jolts Report; Quits And Hiring Rates Have Normalized; Quits, Hiring Rates Have Normalized
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell stated that current policy is restrictive and impacting demand, as evidenced by the labor market data in the JOLTS report. He noted that quits and hiring rates have normalized, indicating a shift in the labor market dynamics.
May 01, 2024 | 6:40 pm
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NEUTRAL IMPACT
Powell's comments on restrictive policy and its impact on demand, alongside normalized labor market dynamics, could influence investor sentiment towards the broader market, potentially affecting SPY.
Powell's statement on restrictive policy and labor market normalization may lead to cautious optimism or concern among investors, affecting the broader market sentiment. As SPY tracks the S&P 500, changes in market sentiment directly influence its performance. However, the impact is considered neutral short-term as the market digests the implications of Fed's policy on economic growth and employment.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 75