Fed's Mester Says Fully Aware The Economy's Performance Could Surprise Fed Officials; Says Economy Would Be Better Off If Federal Funds Rate Goes Higher; Says Not Seeing Signs Of Excessive Credit Tightening
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Mester has stated that the economy's performance could surprise Fed officials and that the economy would be better off if the Federal Funds Rate goes higher. She also mentioned that there are no signs of excessive credit tightening.
July 10, 2023 | 5:05 pm
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NEUTRAL IMPACT
The comments from Fed's Mester could impact the broader market, represented by SPY, as changes in the Federal Funds Rate can influence overall market sentiment.
The Federal Funds Rate influences the borrowing costs for banks, which can impact their profitability and the broader economy. This can affect the overall market sentiment, which is represented by SPY. However, the exact impact will depend on how the market interprets these comments.
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