FOMC Minutes: Several Participants Said If Inflation Were To Persist At Elevated Level Or Rise Further, Funds Rate Might Need To Be Raised
Portfolio Pulse from Benzinga Newsdesk
The FOMC minutes revealed that several participants believe if inflation remains high or increases, the federal funds rate might need to be raised.
July 05, 2024 | 2:59 pm
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The FOMC minutes suggest potential rate hikes if inflation remains high or increases, which could impact the SPY ETF as it reflects the broader market.
The SPY ETF, which tracks the S&P 500, is likely to be impacted by potential rate hikes as higher rates can lead to lower stock prices. The FOMC minutes indicating possible rate increases if inflation persists or rises could lead to short-term downward pressure on SPY.
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