Fed's Powell Says Hard To Say How Much More Mortgage Rates Will Fall; That Will Depend On Economy; Says We Had A Burst Of Inflation, As Did Other Countries; Part Of The Answer Was To Raise Interest Rates
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that the future of mortgage rates is uncertain and will depend on economic conditions. He acknowledged a recent surge in inflation, similar to other countries, and noted that raising interest rates was part of the response.
September 18, 2024 | 7:11 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may experience volatility due to Powell's comments on economic conditions and interest rates, which are key factors influencing the broader market.
Powell's comments on interest rates and economic conditions are significant for the overall market, which SPY tracks. However, the lack of specific guidance on rate changes results in a neutral short-term impact.
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