Fed Chair Powell Says I Like To Look At 3 And 6 Month Series On Payrolls Report Given Differences In Establishment And Household Survey; Overall Picture Is One Of Strong And Gradually Cooling Labor Market; It Has Given Us An Ambiguous Result, But Fact Remains Labor Market Is Strong; No Longer The Super Heated Labor Market Of A Few Years Ago
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell commented on the labor market, noting that while it remains strong, it is gradually cooling. He emphasized the importance of looking at 3 and 6-month payroll series due to differences in surveys. The labor market is no longer as overheated as it was a few years ago.
June 12, 2024 | 6:49 pm
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NEUTRAL IMPACT
Fed Chair Powell's comments on the labor market suggest a strong but gradually cooling economy, which could impact market sentiment and the SPY ETF.
Powell's comments indicate a stable but cooling labor market, which may lead to mixed market reactions. Investors might see this as a sign of economic stability but with less overheating, leading to a neutral short-term impact on SPY.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50