Fed's Harker Says Hears From Contacts Time Needed To Deal With Past Fed Rate Hikes; Expects Unemployment Rate To Rise To 4% Or Just Above That
Portfolio Pulse from Happy Mohamed
In a CNBC interview, Federal Reserve's Harker stated that he has been informed by contacts that more time is needed to deal with past Fed rate hikes. He also expects the unemployment rate to rise to 4% or slightly above.
August 24, 2023 | 2:13 pm
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The comments from Fed's Harker about past rate hikes and rising unemployment could potentially impact the SPY ETF, as it tracks the S&P 500 index which is sensitive to such macroeconomic indicators.
The SPY ETF tracks the S&P 500 index, which is sensitive to macroeconomic indicators such as interest rates and unemployment. Harker's comments suggest a potential tightening of monetary policy and a rise in unemployment, both of which could negatively impact the stock market and, by extension, the SPY ETF.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75