Fed's Chair Powell Says A More Gradual Pace Does Not Automatically Go To Every Other Meeting; Do Not Want To Automatically Go To Every Other Meeting
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell has stated that a more gradual pace of interest rate hikes does not necessarily mean that the Fed will adjust rates at every other meeting. This statement was made in response to speculation that the Fed might adopt a slower pace of rate hikes.
July 26, 2023 | 6:52 pm
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The statement by Fed's Chair Powell may impact the SPY ETF, as it tracks a broad range of US stocks which are sensitive to interest rate changes. A slower pace of rate hikes could potentially boost stock prices.
The SPY ETF tracks a broad range of US stocks. These stocks are sensitive to interest rate changes. If the Fed adopts a slower pace of rate hikes, it could potentially boost stock prices, as lower interest rates generally make borrowing cheaper for companies, potentially leading to increased profits and higher stock prices.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75