Fed's Powell Says We Are A Non-Political Agency; Would Never Make Policy Decisions Based On The Outcome Of An Election That Hasn't Happened Yet
Portfolio Pulse from Benzinga Newsdesk
Fed Chairman Jerome Powell emphasized that the Federal Reserve is a non-political agency and would never make policy decisions based on the outcome of an election that hasn't occurred yet.
July 31, 2024 | 7:08 pm
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POSITIVE IMPACT
Fed Chairman Jerome Powell's statement reinforces the Federal Reserve's commitment to non-political decision-making, which may provide stability to the market and positively impact SPY in the short term.
Powell's statement is likely to reassure investors about the Federal Reserve's independence, which can lead to market stability. This stability is beneficial for SPY, an ETF that tracks the S&P 500.
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