Could Powell's Jackson Hole Speech Keep The Door Open For 50-Basis-Point Rate Cut?
Portfolio Pulse from Piero Cingari
Investors are closely watching Fed Chair Jerome Powell's upcoming speech at the Jackson Hole Symposium for hints on monetary policy. While a rate cut in September is expected, the size of the cut remains uncertain. Analysts predict Powell may express confidence in the inflation outlook and emphasize labor market risks. The SPDR S&P 500 ETF Trust (NYSE:SPY) could be impacted by Powell's guidance, as seen in past reactions to his speeches.
August 22, 2024 | 5:09 pm
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The SPDR S&P 500 ETF Trust (NYSE:SPY) could see volatility based on Powell's speech at the Jackson Hole Symposium. Past speeches have led to significant market reactions, and investors are keen on any hints regarding the size of the expected rate cut.
The SPY ETF, which tracks the S&P 500, is sensitive to Fed policy announcements. Powell's previous speeches have caused significant market movements, and his upcoming speech could influence expectations on rate cuts, affecting SPY's short-term price.
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