President Biden Says American Rescue Plan Brought Inflation Down Below 4%
Portfolio Pulse from Happy Mohamed
President Biden has stated that the American Rescue Plan has brought inflation down below 4%, according to Reuters.
June 28, 2023 | 5:21 pm
News sentiment analysis
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POSITIVE IMPACT
The news of inflation being brought down below 4% by the American Rescue Plan may have a positive impact on the SPY ETF, as lower inflation is generally beneficial for the stock market.
Lower inflation rates are generally seen as positive for the stock market, as they reduce the cost of borrowing and increase the real rate of return on investments. This could lead to increased demand for stocks, potentially driving up the price of the SPY ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50