Economist Mohamad El-Erian Says Fed 'Traumatized' By Big Mistake It Made In 2021, Calls For Rate Cut In July
Portfolio Pulse from Shanthi Rexaline
Economist Mohamad El-Erian suggests that the U.S. Federal Reserve should cut interest rates in July due to signs of slowing economic growth. He believes the Fed is hesitant due to past mistakes. The SPDR S&P 500 ETF Trust (SPY) saw a slight increase in premarket trading.
June 06, 2024 | 12:25 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) saw a slight increase in premarket trading, reflecting market optimism about potential Fed rate cuts.
The SPY ETF, which tracks the S&P 500, is sensitive to interest rate changes. El-Erian's call for a rate cut and the slight premarket increase suggest market optimism.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80