A Substantial Majority Of Fomc Participants Supported Lowering Rates By 50 Basis Points From Fed's Sept 17-18 Meeting; Some Participants Noted There Had Been A Plausible Case For A 25 Basis-point Cut At The July Meeting; Some Participants Noted They Would Have Preferred A 25 Bp Cut At September's Meeting, And A Few Others Indicated They Could Have Supported That
Portfolio Pulse from Benzinga Newsdesk
The Federal Open Market Committee (FOMC) meeting on September 17-18 revealed that a substantial majority supported a 50 basis points rate cut. Some participants had previously considered a 25 basis points cut in July and September.
October 09, 2024 | 6:01 pm
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The FOMC's decision to support a 50 basis points rate cut could positively impact SPY, as lower interest rates generally boost stock market performance.
Lower interest rates typically lead to increased borrowing and spending, which can boost economic activity and stock market performance. SPY, as an ETF tracking the S&P 500, is likely to benefit from this environment.
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