Fed Chair Powell Says The Level Of Job Creation May Not Be Quite At The Point To Keep Unemployment Rate Level In Light Of Rising Supply; Fed Is Not In A Hurry To Cut Rates Quickly, Will Be Guided By Data; The Rate Cut Process Will Play Out "Over Some Time" With No Need To Go Fast; On November Meeting There Are Still Two Employment Reports And An Inflation Report To Come; Fed Will Take Everything Into Account In November Rate Decision
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell indicated that the current job creation rate may not sustain the unemployment rate due to rising supply. The Fed is not rushing to cut rates and will be guided by upcoming data, including two employment reports and an inflation report before the November meeting.

September 30, 2024 | 6:12 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may experience volatility as Fed Chair Powell indicates no rush to cut rates, with decisions being data-driven. Upcoming employment and inflation reports will be crucial.
SPY, as a broad market ETF, is sensitive to Fed rate decisions. Powell's comments suggest a cautious approach to rate cuts, which could lead to market uncertainty. The emphasis on upcoming data means SPY could see fluctuations based on employment and inflation reports.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50