Fed's Powell Says QT May Be Playing A Relatively Small Role In Rise In Longer-Term Rates; Reserves Are Not Even Close To Scarce At This Point; On New Regulations, We Will Come To A Package That Has Broad Support
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that Quantitative Tightening (QT) may be playing a minor role in the rise of longer-term rates. He also mentioned that reserves are not scarce at this point. Regarding new regulations, Powell assured that they will reach a package that has broad support.
November 01, 2023 | 7:04 pm
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NEUTRAL IMPACT
Powell's comments on QT and reserves may have a minor impact on the SPY ETF. The assurance of broad support for new regulations may bring stability.
Powell's comments indicate a stable regulatory and economic environment, which generally supports market stability. However, the impact on SPY is indirect and thus considered minor.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50