Fed Chair Powell Says Unemployment Rate Is Still A Healthy Level; Labor Market Participation Is At A Good Level; Vacancies Still At A Pretty Strong Level; Quits Have Come Back Down To Normal Levels; Together, They All Say It Is A Solid Labor Market; Downside Risks To Employment Have Increased Though; Now In A Good Position To Manage Risks To Both Goals
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Powell stated that the unemployment rate and labor market participation are at healthy levels, with job vacancies strong and quits normalizing. Despite increased downside risks to employment, the labor market remains solid, positioning the Fed well to manage risks.
September 18, 2024 | 6:57 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may experience stability as Fed Chair Powell indicates a solid labor market, despite increased downside risks to employment. This suggests a balanced economic outlook.
Powell's comments suggest a stable economic environment, which is generally positive for broad market ETFs like SPY. However, the mention of increased downside risks tempers any strong positive impact.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50