Fed's Daly Says Need To Move Rates Up To Restrictive Territory
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Bank of San Francisco President Mary Daly has stated that there is a need to move interest rates up to restrictive territory. This could potentially impact the overall market and ETFs like SPY.
July 13, 2023 | 3:27 pm
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The statement by Fed's Daly about the need to increase interest rates could potentially impact SPY, as higher interest rates generally lead to lower stock prices.
Higher interest rates can lead to lower stock prices as they increase borrowing costs for companies, potentially reducing their profits. This can lead to a decrease in the value of stocks and ETFs like SPY that track the overall market.
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