Fed Chair Powell Says My Forecasts Are Very Similar To The Committee's Forecasts; Strong Majority Of Committee Believes Two More Rate Hikes Before End Of Year
Portfolio Pulse from Happy Mohamed
Federal Reserve Chair Jerome Powell stated that his forecasts are very similar to the committee's forecasts, with a strong majority of the committee believing there will be two more rate hikes before the end of the year.
June 22, 2023 | 3:23 pm
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NEGATIVE IMPACT
Fed Chair Powell's statement on two more rate hikes in 2021 may impact the overall market, as represented by the SPY ETF.
Higher interest rates generally lead to lower stock prices, as borrowing costs increase and economic growth may slow down. As SPY is a broad market ETF, it is likely to be negatively impacted by the expected rate hikes.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 50