Richmond Fed's Barkin Says Consumer Spending, Economic Strength Make It Possible Us Economy Could Reaccelerate Before Inflation Cools; He Won't Prejudge Outcome Of Fed's Sept. 19-20 Policy Meeting
Portfolio Pulse from Benzinga Newsdesk
Richmond Fed's Barkin has stated that the strength of consumer spending and the economy could lead to a reacceleration of the US economy before inflation cools. He has not made any predictions about the outcome of the Fed's policy meeting on September 19-20.
August 22, 2023 | 3:53 pm
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POSITIVE IMPACT
The potential reacceleration of the US economy could have a positive impact on the SPY ETF, which tracks the S&P 500 and is a broad indicator of the US stock market.
The SPY ETF is a broad indicator of the US stock market. If the US economy reaccelerates, this could lead to increased corporate profits and higher stock prices, which would likely increase the value of the SPY ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75