Fed's Powell Say Housing Market Is In Part Frozen In Part Due To Higher Rates; Says As Rates Come Home, People Will Start To Move More, And That's Already Happening; Says As Rates Come Down, People Will Sell More
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that the housing market is currently stagnant due to high interest rates. However, he noted that as rates decrease, there is already a trend of increased movement and sales in the housing market.
September 18, 2024 | 7:07 pm
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The SPDR S&P 500 ETF (SPY) may experience volatility as Powell's comments on interest rates and the housing market could influence investor sentiment and broader market movements.
Powell's comments on interest rates can affect the broader market, including SPY, as they influence economic outlook and investor sentiment. However, the direct impact on SPY is moderate as it is a broad market ETF.
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RELEVANCE 50