Powell Says As We Get Closer To Our Destination We Have Slowed Down, To Avoid The Mistake Of Going Too Far; Says People On Committee Overwhelmingly Believe One Or Two More Rate Hikes Will Be Appropriate
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that the Fed has slowed down its approach to interest rate hikes to avoid going too far, with the majority of the committee believing one or two more rate hikes will be appropriate.
June 22, 2023 | 3:34 pm
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Fed's slower approach to rate hikes may impact the overall market, as represented by the SPY ETF.
The Federal Reserve's decision to slow down rate hikes can have a positive impact on the overall market, as it may lead to increased investor confidence and reduced borrowing costs for businesses. The SPY ETF, which tracks the S&P 500, is likely to be affected by this news.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75