Majority Of U.S. Senate Committee Votes To Approve Biden Nominee Jefferson To Fed Vice Chair In Key Procedural Move; Voting Continues
Portfolio Pulse from Benzinga Newsdesk
The U.S. Senate Committee has voted in majority to approve President Biden's nominee, Jefferson, for the position of Fed Vice Chair. The voting process is still ongoing.
July 12, 2023 | 6:16 pm
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NEUTRAL IMPACT
The approval of Jefferson as Fed Vice Chair could influence the monetary policy, potentially impacting the broader market, including SPY.
The Federal Reserve's decisions on monetary policy can significantly impact the broader market. As SPY is a broad market ETF, any changes in the Fed's policy could potentially affect its performance. However, the exact impact will depend on the specific policies implemented by Jefferson, if confirmed.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50