Powell: Asked About Pace Of Cuts, Says It Will Be Meeting By Meeting, Not In A Rush; There's No Sense That The Committee Feels It Is In A Rush; We Have Made A Good Strong Start Today On Cuts; I Am Very Pleased That We Did 50 Bps; But We Will Go Carefully Meeting By Meeting; The Labor Market Is In Solid Condition, Want To Keep It There
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell stated that the pace of interest rate cuts will be determined on a meeting-by-meeting basis, emphasizing a cautious approach. He expressed satisfaction with the recent 50 basis point cut and highlighted the solid condition of the labor market.
September 18, 2024 | 6:46 pm
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The SPDR S&P 500 ETF (SPY) may experience volatility as the Federal Reserve takes a cautious approach to interest rate cuts, with decisions made on a meeting-by-meeting basis. The recent 50 bps cut is seen as a strong start, but future cuts will depend on economic conditions.
The SPY ETF, which tracks the S&P 500, could be impacted by changes in interest rates as they affect economic conditions and investor sentiment. Powell's cautious approach suggests no immediate drastic changes, leading to potential short-term stability but with underlying volatility.
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