Fed's Powell Says Tough To Translate How Many Rate Hikes The Tighter Financial Conditions Translate To, Or How That Will Translate Into Potential Rate Hikes Yet; This Has Been A Resilient Economy; It Has Been Resilient In A Surprising Way
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell has stated that it is difficult to determine how many rate hikes the tighter financial conditions will translate to, or how that will translate into potential rate hikes. He also noted that the economy has been resilient in a surprising way.
November 01, 2023 | 6:46 pm
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The comments from Federal Reserve Chairman Jerome Powell about the uncertainty of rate hikes due to tighter financial conditions could impact the SPY ETF, which tracks the S&P 500 index.
The SPY ETF, which tracks the S&P 500 index, could be impacted by the uncertainty surrounding the number of rate hikes due to tighter financial conditions. Higher interest rates can lead to lower stock prices as they increase borrowing costs for companies, potentially reducing their profits. This could lead to a decrease in the value of the SPY ETF.
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