Fed's Powell Says We Take The Economy As It Is; We Are Going To Be Looking At Broad Picture In Assessing Rate Hikes; We Look At Labor Market, Economic Growth, Financial Conditions; If We Reach A Judgment We Need To Tighten, We Will
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that the Fed will consider the broad economic picture when assessing rate hikes, including factors such as the labor market, economic growth, and financial conditions. He added that if the Fed judges that tightening is necessary, it will act accordingly.
November 01, 2023 | 6:47 pm
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The Federal Reserve's potential rate hikes could impact the SPY ETF, as changes in interest rates can affect the overall stock market.
The SPY ETF tracks the S&P 500, which represents the overall US stock market. Changes in interest rates can affect the cost of borrowing, corporate profits, and investor sentiment, all of which can impact stock prices. Therefore, the potential for rate hikes by the Fed could lead to a decrease in the value of the SPY ETF in the short term.
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