Fed Chair Powell Says The Fact That We Decided To Keep Policy Rate Where It Is Doesnt Mean We Have Decided We Have, Or Have Not, Reached Stance Of Policy We Are Seeking
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell has stated that the decision to maintain the current policy rate does not indicate whether the Fed has reached its desired policy stance. This statement leaves room for future adjustments to the policy rate.
September 20, 2023 | 6:41 pm
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NEUTRAL IMPACT
The statement by Fed Chair Powell may lead to uncertainty in the market, potentially impacting the SPY ETF, which tracks the S&P 500 index.
The Federal Reserve's decisions on policy rates directly influence the overall market. While the SPY ETF was not directly mentioned, it tracks the S&P 500, which is sensitive to changes in monetary policy. The uncertainty surrounding future rate adjustments could lead to volatility in the ETF's price.
CONFIDENCE 80
IMPORTANCE 70
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