Fed Chair Powell Says This Recalibration Will Help Maintain Strength Of Economy And Labor Market; We Are Not On Any Preset Course; We Will Go Meeting By Meeting On Decisions; Our Projections Are Not A Plan Or Decision; If Economy Remains Solid And Inflation Persists Can Dial Back Policy More Slowly; If Economy Remains Solid, We Can Dial Back Pace Of Cuts; Equally If Labor Market Deteriorates We Can Respond
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell stated that the Fed will adjust its policies based on economic conditions, without a preset course. If the economy remains strong and inflation persists, policy adjustments will be gradual. Conversely, if the labor market weakens, the Fed will respond accordingly.
September 18, 2024 | 6:39 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may experience volatility as the Federal Reserve adopts a flexible approach to policy adjustments based on economic conditions. Gradual policy changes could support market stability if the economy remains strong.
The SPY, representing the S&P 500, is sensitive to Federal Reserve policies. Powell's statement of a flexible approach suggests potential volatility. If the economy remains strong, gradual policy changes could stabilize markets, but a weakening labor market could lead to quicker adjustments.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80