Fed's Powell Says Rate Cuts Will Have To Wait Until Confident Inflation Moving Down To 2%
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that rate cuts will have to wait until the Fed is confident that inflation is moving down to 2%. This statement may impact the stock market and ETFs like SPY.
June 22, 2023 | 3:47 pm
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Fed's Powell's statement on rate cuts waiting until inflation moves down to 2% may impact the stock market and ETFs like SPY.
The statement by Fed's Powell indicates that rate cuts will be on hold until there's confidence in inflation moving down to 2%. This may create uncertainty in the stock market, potentially affecting the performance of ETFs like SPY. However, the exact impact on SPY's price is uncertain.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75