Fed's Powell Says Labor Market Still Strong; Disinflation Trend Shows Signs Of Resuming; Made Quite A Bit Of Progress On Inflation; Getting Back On Disinflationary Path; Need To Be More Confident Before Reducing Policy Rates; Need To See More Data Like We've Been Seeing Recently; Data Represents Significant Progress
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Jerome Powell stated that the labor market remains strong and the disinflation trend is showing signs of resuming. He mentioned significant progress on inflation but emphasized the need for more data before reducing policy rates.
July 02, 2024 | 1:38 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may see short-term volatility due to Fed Chair Powell's comments on the strong labor market and resuming disinflation trend. Investors may react to the cautious stance on reducing policy rates.
Powell's comments suggest a cautious approach to reducing policy rates despite progress on inflation. This could lead to mixed reactions in the market, causing short-term volatility in SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80