Fed's Chair Powell Says The Fed Won't Be Cutting Rates This Year
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell has announced that the Fed will not be cutting rates this year. This decision could impact the overall market and particularly the SPY ETF.
July 26, 2023 | 7:07 pm
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NEUTRAL IMPACT
The decision by the Fed to not cut rates this year could impact the SPY ETF, which tracks the S&P 500 and is sensitive to changes in monetary policy.
The SPY ETF tracks the S&P 500 and is therefore sensitive to changes in monetary policy. The decision by the Fed to not cut rates this year could lead to increased borrowing costs for companies, potentially impacting their earnings and stock prices. This could in turn affect the value of the SPY ETF.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80