Fed Chair Powell Says The 3 Readings In Second Quarter To Add To Confidence In Inflation Falling; If We Were To See Unexpected Weakening In Labor Market, That Would Merit Reaction From Us; Not Going To Send Any Signal On Any Particular Meeting; Will Make Decisions Meeting By Meeting; Will Make Decisions Based On Evolving Data And Outlook
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell indicated that the Federal Reserve will make decisions on interest rates based on evolving data and outlook, with a focus on inflation and the labor market. He emphasized that unexpected weakening in the labor market would prompt a reaction from the Fed.
July 15, 2024 | 4:43 pm
News sentiment analysis
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NEUTRAL IMPACT
Fed Chair Powell's comments suggest a cautious approach to interest rate decisions, which could impact market sentiment and the SPY ETF. The focus on inflation and labor market data implies potential volatility based on upcoming economic reports.
Powell's emphasis on data-driven decisions and the potential for reaction to labor market changes suggests that SPY could experience volatility based on upcoming economic data. However, no immediate action or signal was given, leading to a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80