Fed's Powell Says We Examine Private Demand Carefully; Balancing Risks of Acting Too Soon or Too Late; Facing a Very Difficult Judgment Call on Rates; All 19 Participants Supported Today's Decision; Real Discussion Held on Case for Reducing Rates at This Meeting; Strong Majority Supported Keeping Rates Unchanged at This Meeting; Policy Lags Starting to Show in Economy Over Last 6 Months; Feels Positive About Current Position
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Jerome Powell stated that the Federal Reserve is carefully examining private demand and balancing the risks of acting too soon or too late on interest rates. All 19 participants supported the decision to keep rates unchanged at the latest meeting, although there was a real discussion about reducing rates. Powell noted that policy lags are starting to show in the economy over the last six months and expressed positivity about the current position.
July 31, 2024 | 7:01 pm
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POSITIVE IMPACT
The Federal Reserve's decision to keep interest rates unchanged, supported by all 19 participants, may lead to short-term stability in the SPY ETF. Powell's positive outlook and acknowledgment of policy lags showing in the economy could reassure investors.
The Federal Reserve's decision to maintain current interest rates, along with Powell's positive comments, is likely to provide short-term stability to the SPY ETF. Investors may feel reassured by the unanimous support for the decision and the acknowledgment of policy lags.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 80