Fed's Mester Says Hasn't Decided Yet On Need For July Rate Hike, Needs More Data; Says Outlook For Terminal Fed Funds Rate Matches, Or Just Above, June Fed Median Forecast
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Loretta Mester stated that she hasn't decided yet on the need for a July rate hike and requires more data. She also mentioned that the outlook for the terminal Fed funds rate matches, or is just above, the June Fed median forecast.
July 10, 2023 | 5:04 pm
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NEUTRAL IMPACT
The uncertainty around the July rate hike and the outlook for the terminal Fed funds rate could impact the SPY ETF, which tracks the S&P 500 and is sensitive to changes in the interest rate.
The SPY ETF, which tracks the S&P 500, is sensitive to changes in the interest rate. The uncertainty around the July rate hike and the outlook for the terminal Fed funds rate could lead to volatility in the ETF's price. However, the exact impact will depend on the final decision of the Federal Reserve.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50