Richmond Fed President Barkin Says Government Shut Down Would Create Uncertainty; Lack Of Data Due To Shutdown Would Complicate Understanding Economy; Credit Card Spending Data Is Good Alternative Data
Portfolio Pulse from Benzinga Newsdesk
Richmond Fed President Barkin has expressed concerns that a government shutdown would create uncertainty and complicate understanding of the economy due to lack of data. He suggested credit card spending data as a good alternative source of information.
September 28, 2023 | 7:38 pm
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NEGATIVE IMPACT
A government shutdown could create uncertainty in the market, potentially impacting the performance of SPY, an ETF that tracks the S&P 500.
Government shutdowns typically create economic uncertainty, which can lead to volatility in the stock market. As SPY tracks the S&P 500, it is likely to be impacted by such volatility.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75