Fed Chair Powell Says Need To See More Progress Before We Will Be Ready To Reach Conclusion We Are Sufficiently Restrictive; Real Interest Rates Are Meaningfully Positive
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that more progress is needed before the Fed can conclude that its monetary policy is sufficiently restrictive. He noted that real interest rates are meaningfully positive.
September 20, 2023 | 6:42 pm
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NEUTRAL IMPACT
The statement by Fed Chair Powell may impact the SPY ETF, as changes in monetary policy and interest rates can affect the overall market.
The SPY ETF tracks the S&P 500, which is sensitive to changes in monetary policy and interest rates. While Powell's statement does not indicate an immediate change, it suggests that the Fed is closely monitoring the situation, which could lead to future policy adjustments. This uncertainty may lead to volatility in the SPY ETF.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75