'Fed's Bostic Keeps Door Open To Skipping Rate Cut In November' - WSJ Live
Portfolio Pulse from Benzinga Newsdesk
Atlanta Fed President Raphael Bostic is open to either cutting interest rates by a quarter percentage point or maintaining them at the upcoming Federal Reserve meeting, depending on economic data. Bostic supports a patient approach, considering recent economic indicators like the consumer-price index and employment data.
October 10, 2024 | 4:51 pm
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NEUTRAL IMPACT
The potential decision by the Federal Reserve to either cut or maintain interest rates could impact the SPDR S&P 500 ETF Trust (SPY), as interest rate changes influence market conditions and investor sentiment.
The SPDR S&P 500 ETF Trust (SPY) is sensitive to interest rate changes as they affect borrowing costs, consumer spending, and overall economic growth. Bostic's openness to either cutting or maintaining rates introduces uncertainty, which could lead to market volatility. However, the decision is not final, and the impact will depend on forthcoming economic data.
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IMPORTANCE 70
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