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home / news releases / VOO - January Non-Farm Payrolls Review: The Post Phillips Curve World

VOO - January Non-Farm Payrolls Review: The Post Phillips Curve World

Vanguard S&P 500

2024-02-02 13:15:03 ET

Summary

  • January jobs report beats expectations, indicating accelerating momentum in the labor market.
  • The market's reaction to the strong jobs report shows a shift in sentiment towards a more positive reaction function.
  • Fed Chairman Powell has strongly signaled a change in the relationship between labor market strength and inflation, abandoning the old Phillips Curve thinking.

At this point we want to see strong growth, we want to see a strong labor market. We’re not looking for a weaker labor market. We’re looking for inflation to continue to come down, as it has been coming down for the last six months. - Chairman Powell at January FOMC Press Conference.

For further details see:

January Non-Farm Payrolls Review: The Post Phillips Curve World
Stock Information
Company Name: Vanguard S&P 500
Stock Symbol: VOO
Market: NYSE
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