Fed Chair Powell Says GDP Is Not A Mandate; The Question Will Be Is The Heat We See In GDP Really A Threat To Ability To Get To 2% Inflation; GDP Is Being Driven By Strong Consumer Spending
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell stated that GDP is not a mandate and questioned whether the current heat in GDP is a threat to achieving a 2% inflation rate. He attributed the GDP growth to strong consumer spending.
September 20, 2023 | 7:01 pm
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NEUTRAL IMPACT
The comments by Fed Chair Powell may impact the SPY ETF, which tracks the S&P 500. The market often reacts to statements from the Federal Reserve, especially those related to economic indicators like GDP and inflation.
The SPY ETF, which tracks the S&P 500, is often influenced by macroeconomic indicators and statements from the Federal Reserve. While the ETF was not directly mentioned, the comments by Fed Chair Powell on GDP and inflation could have an impact on the broader market, and therefore on the SPY ETF. However, the direction of the impact is uncertain, hence the neutral score.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75