Fed Chair Powell Says Majority Of Policymakers Believe It Is More Likely Than Not Another Rate Hike Will Be Appropriate; We Are Not Making A Decision About If Rates Are Sufficiently Restrictive
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell has stated that the majority of policymakers believe another rate hike is likely to be appropriate. However, no decision has been made about whether rates are sufficiently restrictive.
September 20, 2023 | 6:41 pm
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NEGATIVE IMPACT
The potential for another rate hike by the Federal Reserve could impact the SPY ETF, as changes in interest rates can affect the overall market.
The SPY ETF tracks the S&P 500, which is a broad representation of the US stock market. Changes in interest rates can affect the overall market, as they can influence borrowing costs, profitability of companies, and investor sentiment. Therefore, the potential for another rate hike could have a negative impact on the SPY ETF in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75