Fed Chair Powell Says Since Last Meeting There Has Been A Lot Of Data; Asked About 50 Bps Cut, Says Since Last Meeting There's Been A Lot Of Data Including During Blackout; We Concluded That 50 Bps Cut Was The Right Thing; We Are Recalibrating Our Policy Stance; Nothing In Our Projections That Suggest We Are In A Rush
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell stated that since the last meeting, a significant amount of data has been reviewed, leading to the decision of a 50 basis points rate cut. The Fed is recalibrating its policy stance, with no indication of urgency in their projections.
September 18, 2024 | 6:41 pm
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The Federal Reserve's decision to cut interest rates by 50 basis points could positively impact the SPY ETF, as lower rates often boost stock market performance.
The SPY ETF, which tracks the S&P 500, is likely to benefit from the Fed's rate cut as lower interest rates generally encourage investment in equities, potentially driving up stock prices.
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