Fed Chair Powell Says FOMC Broadly Feels It Will Be Appropriate To Raise Rates Again This Year And Perhaps Two More Times; We Kept Rates On Hold To Give Ourselves More Time To Make Decisions
Portfolio Pulse from Happy Mohamed
Federal Reserve Chair Jerome Powell stated that the FOMC broadly agrees it will be appropriate to raise interest rates again this year, possibly two more times, but rates were kept on hold to allow more time for decision-making.
June 22, 2023 | 2:21 pm
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Fed Chair Powell's statement on potential interest rate hikes this year may impact the SPY ETF as it reflects the overall market sentiment.
Fed Chair Powell's statement on potential interest rate hikes this year may lead to increased market volatility and impact the SPY ETF, which tracks the S&P 500 index. Higher interest rates can lead to lower stock prices as borrowing costs increase for companies.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80