Fed's Powell Says Issue With Housing Is Lack Of Supply; Says Fed Can Not Fix Issues With Housing Supply Constraints; Says As We Normalize Rates, We Do Think Housing Market Will Normalize
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell highlighted that the primary issue with the housing market is a lack of supply, which the Fed cannot address. He mentioned that as interest rates normalize, the housing market is expected to stabilize.
September 18, 2024 | 7:08 pm
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NEUTRAL IMPACT
The statement by Fed Chair Powell about the housing market and interest rates could influence the broader market sentiment, impacting SPY, which tracks the S&P 500.
Powell's comments suggest a neutral outlook for the housing market as it is expected to stabilize with rate normalization. This could lead to a stable or slightly positive sentiment in the broader market, affecting SPY.
CONFIDENCE 80
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