Fed's Waller Says It Is Likely A Series Of Reductions In Policy Rate Will Be Appropriate; Determining Appropriate Pace Of Cuts Will Be Challenging; Am Open Minded On Size And Pace Of Cuts, Will Depend On Data; Will Be An Advocate For Front-loading Rate Cuts If That Is Appropriate
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Waller suggests that a series of policy rate reductions may be appropriate, with the pace and size depending on economic data. He is open to front-loading rate cuts if necessary.
September 06, 2024 | 3:02 pm
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POSITIVE IMPACT
The potential for a series of rate cuts by the Federal Reserve, as suggested by Waller, could positively impact SPY by making borrowing cheaper and potentially boosting economic activity.
SPY, as an ETF that tracks the S&P 500, is likely to benefit from rate cuts as they can lead to lower borrowing costs and increased economic activity, which generally supports stock prices.
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RELEVANCE 80