Fed's Kashkari Says Housing Market Response To Rate Hikes Has Been Surprising, Would Have Thought Brakes Would Be Slammed; Seems Like Housing Has Bottomed, And Is Now Recovering
Portfolio Pulse from Happy Mohamed
Federal Reserve's Neel Kashkari has expressed surprise at the housing market's response to rate hikes, stating that he would have expected a more drastic slowdown. Instead, he observes that the housing market appears to have bottomed out and is now on a recovery path.
August 15, 2023 | 3:37 pm
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The resilience of the housing market to rate hikes, as observed by Fed's Kashkari, could potentially impact the SPY ETF. A recovering housing market could boost investor confidence, potentially leading to an increase in the ETF's price.
The SPY ETF, which tracks the S&P 500, could be impacted by the overall economic sentiment. A recovering housing market, as suggested by Kashkari, could indicate a stronger economy, which could boost investor confidence and potentially lead to an increase in the ETF's price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70