Fed Chair Powell Says China Economy Isn't A First-Order Consideration For Fed
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that China's economy is not a primary consideration for the Federal Reserve's policy decisions, according to Bloomberg.
June 28, 2023 | 2:32 pm
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NEUTRAL IMPACT
The statement by Fed Chair Jerome Powell may have indirect implications for the SPY ETF, which tracks the S&P 500 and includes companies with exposure to China.
While the SPY ETF was not directly mentioned, it could be indirectly affected by the Fed's policy decisions. However, as Powell stated that China's economy is not a primary consideration, the impact may be neutral in the short term.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50