Fed's Harker Says Job Market Softening And Returning To Normal Levels, Revisions Not Surprising; Balance Of Risks More Normal, Fed To Focus More On Jobs
Portfolio Pulse from Benzinga Newsdesk
Philadelphia Fed President Patrick Harker stated that the job market is softening and returning to normal levels, which aligns with expectations. He mentioned that the balance of risks is becoming more normal, and the Federal Reserve will focus more on employment metrics.
August 22, 2024 | 2:11 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may experience volatility as the Federal Reserve shifts its focus towards employment metrics, indicating a potential change in monetary policy direction.
The Federal Reserve's focus on employment metrics could influence monetary policy, impacting market sentiment and SPY's performance. However, the news does not indicate immediate drastic changes, leading to a neutral short-term impact.
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IMPORTANCE 60
RELEVANCE 50