Director of the National Economic Council Brainard Says Core Inflation Is Now In Pre-Pandemic Range; There Are Risks To The Economy, But It Has Remained Resilient; You Worry About An 'Unforced Error' Of A Govt Shutdown; A Shutdown Is Completely Avoidable
Portfolio Pulse from Benzinga Newsdesk
Director of the National Economic Council, Brainard, stated that core inflation is now in pre-pandemic range. He expressed concerns about potential risks to the economy, but noted its resilience. He also warned about the 'unforced error' of a government shutdown, which he believes is completely avoidable.
September 29, 2023 | 1:52 pm
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NEUTRAL IMPACT
The comments by Brainard about the economy's resilience and the risks of a government shutdown could impact investor sentiment and thus the SPY ETF, which tracks the S&P 500.
While Brainard's comments do not directly mention SPY, they are relevant as they pertain to the overall economy. The SPY ETF, which tracks the S&P 500, is often used as a barometer for the overall US stock market. Therefore, any significant economic news can potentially impact its price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75