Fed's Powell Says Here Was No Proposal To Cut Rates Today; Sep Is Good Evidence Of Where FOMC Is At In Terms Of Forecasts; We Weren't Actively Considering A Rate Cut; There Is A Wide Disparity Of View On The Committee
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell stated that there was no proposal to cut rates at the recent meeting, and September's forecasts reflect the FOMC's current stance. He emphasized that a rate cut was not actively considered and there is a significant range of opinions within the committee.
January 31, 2024 | 7:50 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Fed Chair Powell's comments on the lack of a rate cut proposal may lead to a neutral or slightly negative short-term impact on SPY as investors adjust to the idea that the Fed is not looking to ease monetary policy imminently.
Powell's comments indicate a steady approach to monetary policy, which may temper investor expectations for rate cuts. This could lead to a neutral impact on SPY as the market had not priced in a rate cut. However, the confirmation of no immediate easing could also result in a slight negative reaction as investors recalibrate their expectations.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80