Fed's Powell Says Fed Still Trying To Judge If It Needs To Do More; Then Will Consider How Long To Keep Rates High; The Bigger Mistake Remains Not Getting Rates High Enough; Fed Is Moving Carefully
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell has stated that the Fed is still assessing whether it needs to do more in terms of monetary policy. He also mentioned that the bigger mistake would be not getting rates high enough and that the Fed is moving carefully.
November 09, 2023 | 8:25 pm
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NEGATIVE IMPACT
The comments from Fed's Powell about the possibility of higher interest rates could impact the SPY ETF, as higher rates generally make equities less attractive.
The SPY ETF tracks the S&P 500, which is sensitive to changes in interest rates. If the Fed decides to raise rates, this could make equities less attractive compared to other investments, potentially leading to a decrease in the value of the SPY ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80