Fed Chair Powell Says We Don't Think We Are Behind The Curve; We Think This Is Timely; But This Is A Sign Of Our Commitment To Not Get Behind; We've Been Very Patient About Reducing Policy Rate, Others Have Cut
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell stated that the Fed does not believe it is behind the curve in terms of monetary policy. Powell emphasized the Fed's commitment to timely actions and noted their patience in reducing policy rates, contrasting with other central banks that have already cut rates.
September 18, 2024 | 6:48 pm
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NEUTRAL IMPACT
The statement by Fed Chair Powell suggests a steady approach to monetary policy, which may stabilize investor sentiment regarding interest rates. This could lead to a neutral or slightly positive impact on SPY, reflecting broader market stability.
Powell's comments indicate a steady approach to interest rates, which can reassure investors about market stability. SPY, as a broad market ETF, may see a neutral or slightly positive impact as a result of this sentiment.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50