Fed's Powell Says Rising Unemployment Not Result Of Elevated Layoffs; 'My Confidence Has Grown That Inflation Is On A Sustainable Path' To 2%; Inflation 'is Now Much Closer To Our Objective'; Restrictive Monetary Policy Restored Supply-demand Balance; High Inflation Triggered Stress, Sense Of Unfairness; Most Americans Alive Today Had Not Experienced Lasting High Inflation; Goal Is To Avoid Sharp Unemployment Increases Seen In Previous Disinflationary Episodes; Supply Constraints Have Normalized; Labor Mark
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell expressed confidence that inflation is on a sustainable path to 2% and is now closer to the Fed's objective. He noted that rising unemployment is not due to elevated layoffs and emphasized the importance of avoiding sharp unemployment increases. Powell highlighted that restrictive monetary policy has restored supply-demand balance and that supply constraints have normalized.
August 23, 2024 | 2:04 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) may experience stability or slight positive movement as Fed Chair Powell's comments suggest confidence in inflation control and economic stability, which could reassure investors.
Powell's confidence in inflation nearing the 2% target and the normalization of supply constraints suggest a stable economic outlook. This can positively impact SPY as it reflects the broader market sentiment.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50