Fed's Chair Powell Says Staff No Longer Forecasting Recession
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell has announced that the Fed's staff is no longer forecasting a recession, according to Bloomberg. This could potentially signal a more optimistic outlook for the US economy.
July 26, 2023 | 7:05 pm
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POSITIVE IMPACT
The announcement by the Federal Reserve Chair Jerome Powell could potentially have a positive impact on the SPY ETF, as it signals a more optimistic outlook for the US economy.
The SPY ETF tracks the S&P 500, which is a broad representation of the US stock market. A more optimistic economic outlook from the Federal Reserve could potentially lead to increased investor confidence, which could in turn lead to an increase in stock prices and a positive impact on the SPY ETF.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75