Fed Chair Powell Says Our Policy Is Still Restrictive; We Don't Think We Need To See Further Loosening In Labor Market To Get Inflation To 2%; We Don't Think We Need To See Further Loosening Of Labor Market To Get Inflation Down To 2%
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell stated that the current monetary policy remains restrictive and does not require further loosening of the labor market to achieve the 2% inflation target.
September 18, 2024 | 6:54 pm
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The statement by Fed Chair Powell suggests that the Federal Reserve is not planning to ease monetary policy further, which could stabilize or slightly increase the SPY ETF as it reflects confidence in controlling inflation without additional labor market adjustments.
SPY, as an ETF that tracks the S&P 500, is sensitive to Federal Reserve policies. Powell's comments indicate no immediate policy easing, which can be seen as a positive signal for investors, suggesting stability in inflation control efforts.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80