Fed's Daly Says Remain Watchful On Potential For Extra Tightening; It's Another Good Reason To Slow The Rate-hike Pace; Community, Business Contacts See Inflation, Labor Shortages As Big Issues
Portfolio Pulse from Benzinga Newsdesk
Fed's Daly suggests slowing the rate-hike pace due to potential for extra tightening, citing inflation and labor shortages as major concerns from community and business contacts.
June 23, 2023 | 1:37 pm
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Fed's Daly's comments on slowing rate-hike pace may lead to short-term relief for the stock market, including SPY.
Fed's Daly's comments on slowing the rate-hike pace may lead to short-term relief for the stock market, as investors may interpret this as a sign of a more accommodative monetary policy. This could potentially benefit the SPY ETF, which tracks the S&P 500 index.
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