"Philadelphia Fed President Harker Advocates Holding Interest Rates 'Where They Are'" - CNBC
Portfolio Pulse from Benzinga Newsdesk
Philadelphia Federal Reserve President Patrick Harker has advocated for holding interest rates steady, stating that the central bank has made substantial progress in controlling inflation without causing a surge in unemployment. Harker, a voting member of the rate-setting Federal Open Market Committee, believes that the current restrictive policy rates will continue to press down on inflation and bring markets into balance. Despite recent inflation rates remaining above the Fed's 2% annual target, Harker emphasized the need for patience and caution with the data.
October 13, 2023 | 1:15 pm
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The decision to hold interest rates steady could impact the SPY ETF. Stable rates could lead to a more predictable market environment, potentially benefiting equities.
Stable interest rates often lead to a more predictable market environment, which can be beneficial for equities. As SPY is a broad-based ETF, it could potentially benefit from this stability. However, the actual impact would depend on a variety of factors, including investor sentiment and broader economic conditions.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75