President Biden Said He Is Looking At The 14th Amendment To Lift The Debt Ceiling; Said He Believes He Does Have The Authority To Use The 14th Amendment
Portfolio Pulse from Charles Gross
President Biden is considering using the 14th Amendment to lift the debt ceiling, stating he believes he has the authority to do so.
May 21, 2023 | 11:34 am
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POSITIVE IMPACT
The potential use of the 14th Amendment to lift the debt ceiling by President Biden could impact the SPY ETF.
The debt ceiling is a significant factor in the overall economic stability of the United States. If President Biden uses the 14th Amendment to lift the debt ceiling, it could lead to increased confidence in the US economy and potentially boost the stock market. As SPY is an ETF that tracks the S&P 500, it could be positively impacted by this news in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75