El-Erian Lists 3 Possible Paths For Fed's Powell At Jackson Hole: 'If I Were Advising Him ...'
Portfolio Pulse from Shanthi Rexaline
Economist Mohamed El-Erian has outlined three potential approaches that Federal Reserve Chair Jerome Powell could take at the upcoming Jackson Hole Symposium. These include signaling imminent monetary policy steps, discussing long-term monetary policy issues, or focusing on a specific economic question with no immediate policy implications. The stock market, which has seen its momentum stall, could be reignited by news from the symposium. The SPDR S&P 500 ETF Trust (NYSE:SPY) is down over 4% in August, but up over 15% for the year.
August 23, 2023 | 7:55 am
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NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (NYSE:SPY) could be impacted by the outcome of the Jackson Hole Symposium. The ETF is down over 4% in August, but up over 15% for the year.
The performance of SPY, which tracks the S&P 500 Index, could be influenced by the outcome of the Jackson Hole Symposium. Depending on the approach taken by Fed Chair Powell, the market momentum could be reignited, potentially affecting the ETF's performance.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75