Atlanta Fed's Bostic Says Recession Is Not The Baseline Outlook
Portfolio Pulse from Benzinga Newsdesk
Atlanta Federal Reserve President Raphael Bostic stated that a recession is not the baseline outlook for the U.S. economy, according to Reuters.
July 10, 2023 | 4:31 pm
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POSITIVE IMPACT
The statement by Atlanta Fed's Bostic that a recession is not the baseline outlook for the U.S. economy may have a positive impact on SPY, an ETF that tracks the S&P 500 index.
The SPY ETF tracks the S&P 500 index, which is a broad representation of the U.S. stock market. Positive economic outlooks, such as the one given by Atlanta Fed's Bostic, often lead to increased investor confidence, which can drive up stock prices. Therefore, this news could potentially have a positive impact on the SPY ETF in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75