Fed's Powell Says We Might Well Have Cut In July If We Had The Jobs Data At That Point; Says Everyone On The Committee Agreed It Was Time To Move; Says Decision Today Had Broad Support At FOMC
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that the Fed might have cut rates in July if they had the current jobs data at that time. The decision to move was unanimously agreed upon by the committee, and today's decision had broad support at the FOMC.
September 18, 2024 | 7:10 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) could be impacted by Powell's comments on potential rate cuts, as such decisions influence market sentiment and stock prices.
Powell's comments suggest a dovish stance, which typically supports stock prices. The SPY, representing the S&P 500, is sensitive to such macroeconomic signals.
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IMPORTANCE 70
RELEVANCE 80