Fed's Powell Says Too Early To Know Full Extent Of Banking Turmoil-Related Credit Tightening; If We See More Of An Effect From Credit Tightening, We Will Factor That Into Rate Decisions; Not Seeing A Lot Of Progress On Core PCE
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that it is too early to determine the full extent of banking turmoil-related credit tightening. He added that if there is a significant effect from credit tightening, it will be factored into future rate decisions. Powell also mentioned that there is not much progress on core PCE.
June 14, 2023 | 6:59 pm
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NEUTRAL IMPACT
Fed's Powell's comments on credit tightening and rate decisions may cause uncertainty in the market, potentially impacting the SPY ETF.
Powell's comments indicate that the Federal Reserve is closely monitoring the situation and will adjust rate decisions if needed. This may cause uncertainty in the market, which could impact the SPY ETF. However, the extent of the impact is uncertain as it depends on future developments and the Fed's actions.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50