Fed's Powell Says Financial Conditions Have Clearly Tightened; Over Time That Will Have An Effect, We Just Don't Know How Quickly That Will Be; See Effects Of Higher Rates On Housing Market, Surveys On Durables Buying
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that financial conditions have tightened and this will have an effect over time, although the speed of this effect is uncertain. He also noted the impact of higher rates on the housing market and durable goods buying.

November 01, 2023 | 6:45 pm
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The tightening of financial conditions and the impact of higher rates could affect the overall market, potentially leading to a decrease in the value of SPY.
The SPY ETF tracks the S&P 500, which represents the overall US stock market. Tightening financial conditions and higher interest rates can lead to decreased corporate profits and consumer spending, which could negatively impact the stock market and therefore the value of SPY.
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