Fed Chair Powell Says Question Of Speed On Rate Hikes Is Separate From Question Of Level Of Rates; We Are Not So Far Away From Destination On Fed Funds Rates; Its Reasonable To Go Slower As We Approach Rates Destination
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell stated that the speed of rate hikes is separate from the level of rates, and that the Fed is not far from its destination on Fed funds rates. He suggested it's reasonable to go slower as they approach the rates destination.
June 14, 2023 | 6:47 pm
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Fed Chair Powell's comments on the speed of rate hikes and nearing the destination on Fed funds rates may impact the SPY ETF in the short term.
Fed Chair Powell's comments suggest that the Federal Reserve is nearing its target for interest rates, which may lead to a slower pace of rate hikes. This could have a neutral impact on the SPY ETF, as the market may have already priced in the expected rate hikes. However, any changes in the pace of rate hikes could cause short-term fluctuations in the ETF's price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50