Fed Chair Powell Says Have Made Good Progress Toward Restoring Price Stability Without Painful Rise In Unemployment; Risks Of Achieving Employment, Inflation Goals 'Roughly In Balance'
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell stated that significant progress has been made towards stabilizing prices without causing a significant increase in unemployment. He mentioned that the risks of achieving employment and inflation goals are balanced.
September 30, 2024 | 5:57 pm
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POSITIVE IMPACT
The statement by Fed Chair Powell about progress in price stability and balanced risks in employment and inflation goals is likely to positively impact SPY, as it suggests a stable economic outlook.
Powell's comments suggest a stable economic environment, which is generally positive for the stock market. SPY, as an ETF that tracks the S&P 500, is likely to benefit from this stability.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80