Fed's Bostic Says U.S. Employment Gains Slowing In Orderly Manner, No Need For Further Rate Hikes
Portfolio Pulse from Happy Mohamed
Federal Reserve Bank of Atlanta President Raphael Bostic stated that U.S. employment gains are slowing in an orderly manner, and there is no need for further rate hikes, according to Bloomberg.
August 04, 2023 | 3:45 pm
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The statement by Fed's Bostic about no need for further rate hikes could potentially stabilize or even boost the market, which could positively impact SPY.
The SPY ETF tracks the S&P 500, which is sensitive to interest rate changes. If the Federal Reserve holds off on further rate hikes, this could stabilize or even boost the market, which would likely have a positive impact on SPY.
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