Fed's Powell Says Fed Projections At The Median Has Some Rate Cuts Next Year, But Will Depend On The Economy; Says Inflation Has Proven More Persistent Than Expected
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that the Fed's median projections include some rate cuts next year, but the decision will depend on the economy. He also mentioned that inflation has been more persistent than expected.
June 22, 2023 | 3:47 pm
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Fed's Powell indicates potential rate cuts in 2023, depending on the economy. Inflation remains more persistent than expected, which may impact the stock market.
The potential rate cuts in 2023 and persistent inflation may have mixed effects on the stock market. Rate cuts can boost the market, while inflation concerns may cause uncertainty. The impact on SPY is neutral in the short term.
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