Fed Chair Powell Says But We Are Not Fully Confident In That View Yet; Discussion On When To Cut Rates Is Still Ahead, Will Decide Very Carefully
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell indicated uncertainty about the economic outlook, stating that while there may be discussions on when to cut rates, the decision will be made with great care and they are not fully confident in that view yet.
December 13, 2023 | 7:51 pm
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NEUTRAL IMPACT
Fed Chair Powell's cautious remarks on the economy and interest rate cuts may lead to increased volatility in the SPY ETF as investors reassess their expectations.
Powell's comments suggest a non-committal stance on interest rate cuts, which could lead to uncertainty in the market. SPY, which tracks the S&P 500, is likely to experience volatility as investors speculate on the timing and likelihood of rate cuts. However, without a clear direction, the immediate impact on SPY is neutral, with a moderate level of importance and relevance due to the broad effect of interest rates on the market.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80