Fed Chair Powell Says Left Open The Size Of Rate Cut Going Into Blackout; We Left Open Size Of Rate Cut As We Entered Blackout; Broad Support For A 50 Bps Cut Today; Broad Support For The Decision The Committee Voted On; There Is A Dissent And A Range Of Views But Also A Lot Of Common Ground; There Was A Range Of Views But A Lot Of Common Ground As Well
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Powell indicated that the size of the rate cut was left open as the committee entered its blackout period. There was broad support for a 50 basis points cut, despite some dissent and a range of views among committee members.

September 18, 2024 | 6:45 pm
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NEUTRAL IMPACT
The Federal Reserve's decision to leave the size of the rate cut open, with broad support for a 50 bps cut, could impact SPY as it reflects market expectations for interest rates. This decision may lead to increased volatility in SPY.
The SPY ETF, which tracks the S&P 500, is sensitive to interest rate changes. The Fed's decision to potentially cut rates by 50 bps, with the size left open, suggests uncertainty that could lead to market volatility. However, the broad support for the cut indicates a consensus that may stabilize expectations.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80