Fed's Powell Says Economy Has Been Very Hard For Forecasters To Predict; There Are Paths To Not Cutting, And Paths To Cutting, It Will Depend On The Data
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that the economy has been challenging for forecasters to predict, indicating that future interest rate decisions will be data-dependent. He mentioned that there are scenarios where rates could either be cut or not cut, emphasizing the uncertainty and the reliance on upcoming economic data for decision-making.
May 01, 2024 | 6:55 pm
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NEUTRAL IMPACT
Jerome Powell's comments on the economy and interest rates introduce uncertainty, which could lead to increased volatility in the SPY ETF as investors react to the Federal Reserve's data-dependent approach.
The SPY ETF, which tracks the S&P 500, is highly sensitive to changes in Federal Reserve policies and economic outlooks. Powell's statement introduces a level of uncertainty regarding future interest rate movements, which could lead to short-term volatility in the ETF as investors adjust their expectations based on incoming economic data.
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RELEVANCE 90