FOMC Minutes: Officials Discussed 'Essential' Need to Raise Debt Limit to Avoid Financial, Economic Shocks; Officials Were Divided Over Path of Rates With More Favoring a Pause; Officials Saw 'Uncertainty' Over Further Rate Increases At May Meeting
Portfolio Pulse from Benzinga Newsdesk
FOMC minutes reveal officials discussed the essential need to raise the debt limit to avoid financial and economic shocks. They were divided over the path of rates, with more favoring a pause, and saw uncertainty over further rate increases at the May meeting.
May 24, 2023 | 6:03 pm
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FOMC minutes show officials discussing the need to raise the debt limit and uncertainty over further rate increases, which may impact the SPY ETF in the short term.
The FOMC minutes discuss the need to raise the debt limit and uncertainty over further rate increases. While this information is relevant to the overall market and may impact the SPY ETF, the direct impact on the ETF is not clear. The divided opinions on rate path and uncertainty over rate increases may lead to market volatility, but it is difficult to predict the short-term direction of the SPY ETF based on this news alone.
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