Fed's Powell Says Fed Will Monitor Market Conditions Carefully As Treasury Refills TGA; We Are Starting At A Very High Level Of Reserves; We Are Starting At A High Level Of Reserves; Don't See Reserves Becoming Scarce Near Term
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that the Fed will carefully monitor market conditions as the Treasury refills the Treasury General Account (TGA). He added that they are starting at a high level of reserves and do not foresee reserves becoming scarce in the near term.
June 14, 2023 | 7:04 pm
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Fed's Powell's statement on monitoring market conditions as the Treasury refills TGA and maintaining a high level of reserves may have a neutral impact on SPY.
The statement by Fed's Powell indicates that the Federal Reserve is closely monitoring the market conditions and maintaining a high level of reserves. This may provide stability to the market, but it does not directly imply any significant change in the short term for SPY.
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