Fed's Powell Says Policymakers Don't Want To Take Possibility Of Further Hikes Off The Table; We Will Adjust Policy As Needed, Not On Preset Course; We Are Proceeding Carefully; Will Make Decisions Meeting By Meeting
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Jerome Powell indicated that further interest rate hikes are not off the table and that the Federal Reserve will adjust policy as needed, emphasizing a careful approach and a lack of a preset course. Decisions will be made on a meeting-by-meeting basis.
December 13, 2023 | 7:39 pm
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Jerome Powell's comments on potential further rate hikes and a non-preset policy course may lead to increased market volatility and could impact the SPY ETF as it tracks the broader market.
Powell's remarks suggest that the Federal Reserve is open to further rate hikes, which typically lead to lower equity prices as borrowing costs rise and economic growth may slow. This can negatively impact the SPY ETF, which is a broad market index fund, as investors may react to the uncertainty of future monetary policy and its implications for the economy.
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