Chicago Fed President Goolsbee Said Collectively Fed Forecast Is That Rates Will Have To Stay Up For A Relatively Extended Period.
Portfolio Pulse from Charles Gross
Chicago Fed President Goolsbee has stated that the collective forecast of the Federal Reserve is that interest rates will have to remain high for an extended period.
September 07, 2023 | 9:15 pm
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NEGATIVE IMPACT
The statement by Chicago Fed President Goolsbee about prolonged high interest rates could potentially impact the SPY ETF. Higher interest rates can lead to lower stock prices as borrowing costs increase for companies.
The SPY ETF, which tracks the S&P 500, could be negatively impacted by prolonged high interest rates. Higher interest rates increase borrowing costs for companies, which can lead to lower profits and thus lower stock prices. This in turn can decrease the value of the SPY ETF.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75