Fed's Powell Says Longer Term Higher Rates Can't Be A Reflection Of Higher Policy Rates From Us; It Does Not Appear That An Expectation Of Higher Fed Policy Rates Is Causing Higher Longer-term Rates; Does Not Appear Policy Expectations Driving Rates
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that longer-term higher rates cannot be a reflection of higher policy rates from the US. He also mentioned that it does not appear that an expectation of higher Fed policy rates is causing higher longer-term rates, and policy expectations are not driving rates.
November 01, 2023 | 6:41 pm
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NEUTRAL IMPACT
The statement by Fed's Powell may impact the SPY ETF as it reflects the overall US market. The lack of correlation between policy rates and longer-term rates could influence investor sentiment.
The SPY ETF, which tracks the S&P 500, could be influenced by the Fed's policy rates. However, Powell's statement indicates that these policy rates are not driving longer-term rates, which could lead to a neutral impact on the ETF in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75