Larry Summers Found Fed's Rate Hike Pause 'A Little Bit Confusing' — Feels Policy Meet Was Driven By 'Internal Political Dynamics'
Portfolio Pulse from Bhavik Nair
Former Treasury Secretary Lawrence Summers found the Fed's rate hike pause confusing and driven by internal political dynamics. He believes there's no clear evidence of a slowdown in inflation. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust Series 1 (QQQ) both rose on Thursday.
June 16, 2023 | 3:21 am
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POSITIVE IMPACT
The Invesco QQQ Trust Series 1 (QQQ) rose 1.19% on Thursday following the Fed's announcement of a pause in its rate hike campaign.
The Fed's decision to pause its rate hike campaign led to a positive market reaction, with the QQQ ETF rising 1.19%. This indicates that investors may have perceived the pause as a positive sign for the market in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) closed 1.24% higher on Thursday after the Fed announced a pause in its rate hike campaign.
The Fed's decision to pause its rate hike campaign led to a positive market reaction, with the SPY ETF closing 1.24% higher. This indicates that investors may have perceived the pause as a positive sign for the market in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50