Fed's Chair Powell Says Labor Market Has Come Into Better Balance;Maintaining Our Restrictive Stance; Attentive To Risks On Both Sides Of Dual Mandate; Attentive To Risks On Both Sides Of Our Mandate; Remain Squarely Focused On Dual Mandate; Made Considerable Progress On Both Goals In Past 2 Years; Strongly Committed To Returning Inflation To 2% Goal
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell stated that the labor market has come into better balance and the Fed will maintain its restrictive stance. The Fed remains focused on its dual mandate and is committed to returning inflation to the 2% goal.
July 31, 2024 | 6:32 pm
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NEUTRAL IMPACT
Fed Chair Powell's comments on maintaining a restrictive stance and commitment to the 2% inflation goal may lead to short-term volatility in SPY.
The Fed's commitment to a restrictive stance and inflation control can lead to market uncertainty, impacting SPY. However, the balanced labor market may provide some stability.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80