Fed Chair Powell Says He Always Believed In A Path To Lower Inflation Without The Typical Labor Market Pain Of Past Tightening Cycles; 'Hard Landing' Scenario Is Not The Most Likely Outcome Now; Unemployment Cannot Be Reduced To A Single Number; Maximum Employment Depends On Many Variables
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell expressed confidence in achieving lower inflation without significant labor market pain, suggesting a 'hard landing' is unlikely. He emphasized that unemployment cannot be reduced to a single number and that maximum employment depends on various factors.
July 15, 2024 | 4:58 pm
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POSITIVE IMPACT
Fed Chair Powell's comments on achieving lower inflation without significant labor market pain and downplaying a 'hard landing' scenario are likely to boost investor confidence in the broader market, positively impacting SPY.
Powell's comments suggest a stable economic outlook, which is likely to reassure investors and positively impact the SPY ETF, reflecting broader market confidence.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80