Chicago Fed's Goolsbee Says Fed Will Have To "Play By Year" Whether Rates Need To Move Higher; It "Feels Like" Rates Will Have To Stay Higher For Longer Than Markets Had Expected
Portfolio Pulse from Benzinga Newsdesk
Chicago Fed's Goolsbee suggests that the Federal Reserve will have to 'play by year' regarding whether interest rates need to increase. He also indicates that rates may have to stay higher for longer than markets had anticipated.
September 25, 2023 | 12:41 pm
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The potential for longer-term higher interest rates could impact the SPY ETF, as higher rates generally lead to lower stock prices.
Higher interest rates can lead to lower stock prices as they increase borrowing costs for companies, potentially reducing their profits. This can lead to a decrease in the value of stocks, including those in the SPY ETF.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75