Fed's Daly Says U.S. Economic Momentum Continues To Surprise; Says In Context Of That Momentum, There's More We Need To Do To Raise Rates; Says We Need To Be Data Dependent To Make Policy
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Mary Daly stated that the U.S. economic momentum continues to surprise and in the context of that momentum, there's more that needs to be done to raise rates. She emphasized the need to be data dependent to make policy decisions.
July 10, 2023 | 3:06 pm
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The comments from Federal Reserve's Mary Daly about the need to raise rates could impact the SPY ETF. Higher interest rates can lead to lower stock prices as borrowing costs increase.
The SPY ETF tracks the S&P 500, which is a broad representation of the U.S. stock market. If the Federal Reserve raises interest rates, borrowing costs for companies increase, which can lead to lower profits and lower stock prices. Therefore, the SPY ETF could be negatively impacted.
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