Fed's Powell Says A 50 BPS Point Cut Is Not Being Considered Right Now
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell announced that a 50 basis points cut is not being considered at the moment. This statement may influence market expectations and investor sentiment.
July 31, 2024 | 7:10 pm
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NEUTRAL IMPACT
The statement by Fed Chair Powell that a 50 basis points cut is not being considered could affect the SPDR S&P 500 ETF (SPY) as it may influence market expectations and investor sentiment.
The SPDR S&P 500 ETF (SPY) is likely to be influenced by changes in market expectations and investor sentiment following Powell's statement. However, the impact may be neutral in the short term as the market adjusts to the news.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50