Fed's Daly Says We Must Do Enough To Get Rate To A Sufficient Restrictive Level
Portfolio Pulse from Happy Mohamed
Federal Reserve Bank of San Francisco President Mary Daly stated that the Federal Reserve must do enough to get the rate to a sufficient restrictive level. This statement suggests a potential increase in interest rates.
July 13, 2023 | 3:22 pm
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NEGATIVE IMPACT
The potential increase in interest rates suggested by Fed's Daly could impact the SPY ETF. Higher interest rates can lead to lower stock prices as borrowing costs increase for companies.
Higher interest rates increase borrowing costs for companies, which can lead to lower profits and thus lower stock prices. As SPY is a broad market ETF, it is likely to be impacted by changes in interest rates.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75