Fed Chair Powell Says We Tend To Look Through Short-term Moves In Energy Prices; The Rise In Long-term Yields Is Mostly Not About Inflation Expectations, More About Growth, And Supply Of Treasuries.
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell stated that the Federal Reserve tends to overlook short-term fluctuations in energy prices. He also mentioned that the increase in long-term yields is primarily due to growth and the supply of Treasuries, rather than inflation expectations.
September 20, 2023 | 7:14 pm
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NEUTRAL IMPACT
Powell's comments may impact the SPY ETF, as it tracks the S&P 500 index which is sensitive to changes in Federal Reserve policy and Treasury yields.
The SPY ETF tracks the S&P 500 index, which is sensitive to changes in Federal Reserve policy and Treasury yields. Powell's comments on overlooking short-term energy price fluctuations and the rise in long-term yields being due to growth and supply of Treasuries, rather than inflation, could impact the ETF. However, the exact direction of the impact is uncertain.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75