Fed Chair Powell Says Growth In Real GDP Has Come In Above Expectations
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell has stated that the growth in real GDP has exceeded expectations, according to Reuters.
September 20, 2023 | 6:32 pm
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POSITIVE IMPACT
The statement by Fed Chair Jerome Powell about the growth in real GDP exceeding expectations could potentially have a positive impact on the SPY ETF, as it reflects a strong economy.
The SPY ETF tracks the S&P 500, which is a broad representation of the US stock market. Positive news about the economy, such as higher than expected GDP growth, generally leads to a positive sentiment in the market, which could potentially lead to an increase in the price of the SPY ETF.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75