Fed Chair Powell Says Any Decision About Future Rate Cuts Will Be About What The Economy Needs
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell has stated that any future decisions regarding rate cuts will be based on the needs of the economy. This statement suggests that the Federal Reserve is open to further rate cuts if necessary, but will not commit to any specific actions without first assessing the state of the economy.
September 20, 2023 | 7:17 pm
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NEUTRAL IMPACT
The statement by Fed Chair Powell may impact the SPY ETF. If the economy requires further rate cuts, this could potentially lead to increased market volatility, which could impact the value of the SPY ETF.
The SPY ETF tracks the S&P 500, which is sensitive to changes in the federal funds rate. If the Federal Reserve decides to cut rates, this could lead to increased market volatility, which could impact the value of the SPY ETF. However, the impact is uncertain as it depends on the state of the economy and the Federal Reserve's decision.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50