Fed Chair Powell Says We Don't Think Of Labor Market As It Is Currently As Likely Source Of Inflation Pressures; That's Why I Don't Want To See Excess Cooling In The Labor Market; Have Made Real Progress On Inflation, Growing Confidence On A Path To 2%; If We See Something That Looks Like A Significant Downturn In Labor Market, We Would Respond; We Are In A Good Place; We Are Actually In A Good Place Here; We Are Balancing Risks; We Have To Just Balance Our Two Risks
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell stated that the current labor market is not seen as a likely source of inflation pressures and emphasized the importance of not excessively cooling it. He noted progress on inflation and expressed growing confidence in achieving a 2% target. Powell mentioned that the Fed would respond to any significant downturn in the labor market and highlighted the need to balance risks.
July 31, 2024 | 6:45 pm
News sentiment analysis
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POSITIVE IMPACT
Fed Chair Powell's comments suggest a stable approach to managing inflation and the labor market, which could positively impact market sentiment and the SPY ETF in the short term.
Powell's remarks indicate a cautious but optimistic stance on inflation and labor market conditions, which is likely to reassure investors and support market stability. This could lead to a positive short-term impact on SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80