'Atlanta Fed President Bostic Open To Either Holding Rates Steady Or Cutting By 25 Basis Points At November Meeting Based On Economic Data; Cites Choppy Data And Patient Approach, Supports Gradually Lowering Rates Toward 3%-3.5% Neutral Range Over Next Year' - WSJ
Portfolio Pulse from Benzinga Newsdesk
Atlanta Fed President Bostic is open to either holding rates steady or cutting by 25 basis points at the November meeting, depending on economic data. He supports gradually lowering rates toward a 3%-3.5% neutral range over the next year.
October 10, 2024 | 4:51 pm
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POSITIVE IMPACT
The potential decision by the Fed to hold or cut rates could impact SPY, as it reflects broader market expectations. A rate cut might boost SPY, while holding rates could maintain current levels.
SPY, as an ETF tracking the S&P 500, is sensitive to interest rate changes. A rate cut could lead to a positive market reaction, boosting SPY. Holding rates steady might not have a significant impact, but the anticipation of future cuts could still support SPY.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 70