Fed Chair Powell Says Fed Projections Are A Baseline Projections; Actual Things We Do Depend On How Economy Evolves; We Can Go Quicker Or Slower, Or Pause, On Rate Cuts If It Is Appropriate
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell stated that the Fed's projections are baseline and actual actions will depend on economic developments. The Fed may adjust the pace of rate cuts, including speeding up, slowing down, or pausing, based on appropriateness.
September 18, 2024 | 6:41 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may experience volatility as Fed Chair Powell indicates flexibility in rate cuts, which will depend on economic conditions. This uncertainty could impact investor sentiment and market movements.
SPY, as an ETF tracking the S&P 500, is sensitive to changes in interest rate policies. Powell's statement introduces uncertainty, which can lead to market volatility as investors react to potential changes in economic policy.
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