Fed Chair Powell Says Housing Supply Is Structurally Constrained; We Are Not Looking For A Decrease In Consumer Spending
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Jerome Powell has stated that the housing supply is structurally constrained. He also mentioned that the Fed is not anticipating a decrease in consumer spending.
September 20, 2023 | 7:19 pm
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NEUTRAL IMPACT
The statement by Fed Chair Powell about the structural constraints in the housing supply and the expectation of no decrease in consumer spending may impact the SPY ETF.
The SPY ETF, which tracks the S&P 500, could be impacted by these comments as they reflect on the overall economic conditions. A constrained housing supply could affect the real estate sector, while consumer spending is a major driver of the economy. However, the impact is uncertain as it depends on how these factors evolve.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50