U.S. President Biden On Consumer Price Index Says Report Provides More Evidence That Core Inflation Is Trending Down Toward Pre-Pandemic Levels
Portfolio Pulse from Benzinga Newsdesk
U.S. President Biden has stated that the Consumer Price Index report provides evidence that core inflation is trending down towards pre-pandemic levels.
September 13, 2023 | 2:04 pm
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POSITIVE IMPACT
The statement by President Biden about core inflation trending down could potentially impact the SPY ETF, as it tracks the performance of the S&P 500, which is sensitive to inflation data.
The SPY ETF tracks the S&P 500, which is sensitive to inflation data. If core inflation is indeed trending down, this could potentially lead to a more favorable economic environment for stocks, thus potentially boosting the performance of the SPY ETF in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75