Fed's Daly Says Balance Sheet Draw Down Working Effectively; I Don't Know How Deep And Long Credit Tightening Will Be; FOMC Deciding Meeting By Meeting Is More Prudent Path; Global Tightening Hasn't Slowed Growth As Much As Feared
Portfolio Pulse from Benzinga Newsdesk
Fed's Daly states that the balance sheet drawdown is working effectively and the FOMC is taking a prudent approach by deciding on a meeting-by-meeting basis. Global tightening hasn't slowed growth as much as anticipated.
May 22, 2023 | 3:41 pm
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NEUTRAL IMPACT
Fed's Daly's comments on effective balance sheet drawdown and prudent FOMC approach may have a neutral impact on the SPY ETF.
Fed's Daly's comments indicate that the Federal Reserve is taking a cautious approach to monetary policy, which may have a neutral impact on the broader market, as represented by the SPY ETF. The comments suggest that the Fed is not overly concerned about the impact of global tightening on growth, which may alleviate some investor concerns.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50