Fed's Chair Powell Says Do Not Believe Policy Has Been Restrictive Enough For Long Enough To Bring Inflation To Target; Still A Long Way To Go
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell stated that the current monetary policy has not been restrictive enough for a sufficient duration to bring inflation to the target level. He added that there is still a long way to go.
July 26, 2023 | 6:52 pm
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The statement by Fed's Chair Powell may impact the SPY ETF, as it reflects the performance of the S&P 500, which is sensitive to monetary policy changes.
The SPY ETF, which tracks the S&P 500, is likely to be impacted by changes in the Federal Reserve's monetary policy. If the policy remains less restrictive, it could lead to higher inflation, potentially causing a decrease in the value of the ETF in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75