Philadelphia Fed President Harker Says Fed Should Not Be Considering More Rate Increases
Portfolio Pulse from Benzinga Newsdesk
Philadelphia Fed President Harker has stated that the Federal Reserve should not be considering more rate increases, according to Reuters.
October 16, 2023 | 9:07 pm
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POSITIVE IMPACT
The statement by Philadelphia Fed President Harker against further rate increases could potentially impact the SPY ETF.
The SPY ETF tracks the S&P 500, which is sensitive to changes in the Federal Reserve's monetary policy. If the Fed holds off on further rate increases, this could potentially lead to a more favorable environment for stocks, thus positively impacting the SPY ETF in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75