Biden Unveils Vision For Economic Growth: Shifting From Trickle-Down To 'Bidenomics'
Portfolio Pulse from Piero Cingari
President Joe Biden outlined his economic growth plan, criticizing trickle-down economics and advocating for a shift to 'Bidenomics'. He emphasized the importance of investing in America, promoting competition, and addressing climate security. Biden also criticized the U.S. tax structure, pledging to eliminate tax loopholes for cryptocurrency and hedge funds. The stock market, represented by SPDR S&P 500 ETF Trust (NYSE:SPY), remained steady during his speech.
June 28, 2023 | 6:29 pm
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NEUTRAL IMPACT
Despite President Biden's speech outlining his economic growth plan, the SPDR S&P 500 ETF Trust (NYSE:SPY) remained steady.
President Biden's speech outlined significant changes in economic policy, which could have potential impacts on the market. However, the SPY ETF, which tracks the S&P 500, remained steady during his speech, indicating that the market did not react strongly to his comments.
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