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SPY, QQQ React to Fed Rate Cut as Powell Flags Labor Market Risks
SPY, QQQ React to Fed Rate Cut as Powell Flags Labor Market Risks
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BTCCSquare news:
Market volatility gripped the S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ) as the Federal Reserve delivered a 25-basis-point rate cut, with Chair Jerome Powell highlighting emerging cracks in the labor market. The central bank's DOT plot signals two additional cuts before year-end, reflecting a cautious pivot.
Powell's warning on weakening workforce participation and immigration contrasts with his assessment of receding inflation risks. 'The labor market is no longer solid,' he noted, underscoring the Fed's delicate balancing act between employment and price stability. Tariff-related price pressures are expected to be transient.
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