Fed Chair Powell says Fed Encouraging Bankers To Work With Customers Impacted By Hurricane; Ensuring Through Reserve Banks That There Is Cash For Transactions In Areas Where Power Is Out
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell announced that the Fed is encouraging bankers to assist customers affected by the hurricane. The Fed is also ensuring that there is sufficient cash available for transactions in areas where power is out.
September 30, 2024 | 6:04 pm
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NEUTRAL IMPACT
The Federal Reserve's actions to ensure cash availability and encourage banks to support hurricane-impacted customers may stabilize market sentiment, potentially affecting SPY.
The Fed's actions are aimed at stabilizing financial conditions in hurricane-affected areas, which could have a neutral to slightly positive impact on market sentiment. SPY, as an ETF tracking the S&P 500, may see stabilization in its price due to these measures.
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