Fed Chair Powell Says Nearly All Policymakers View Some Further Rate Hikes This Year Appropriate
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell stated that nearly all policymakers believe some further rate hikes this year are appropriate. This may impact the stock market and ETFs like SPY.
June 14, 2023 | 6:32 pm
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Fed Chair Powell's statement on further rate hikes this year may lead to increased volatility and potential downward pressure on the stock market and ETFs like SPY.
Rate hikes generally lead to increased borrowing costs for businesses, which can negatively impact their profitability and stock prices. As SPY is a broad market ETF, it is likely to be affected by these rate hikes and the resulting market volatility.
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IMPORTANCE 80
RELEVANCE 100