'Social Security Cost-Of-Living Adjustment Will Be 3.2% In 2024, Well Below This Year's Record-Setting Increase' - CNBC
Portfolio Pulse from Benzinga Newsdesk
The Social Security Administration has announced a 3.2% cost-of-living adjustment for 2024, which is significantly lower than the record-setting increase seen in the previous year.
October 12, 2023 | 12:50 pm
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NEUTRAL IMPACT
The lower cost-of-living adjustment for 2024 may have a neutral impact on SPY as it reflects a more stable inflation environment.
The cost-of-living adjustment (COLA) is tied to inflation. A lower COLA for 2024 compared to the record-setting increase in the previous year suggests a more stable inflation environment. This could have a neutral impact on SPY, which is a broad market ETF, as it indicates a more balanced economic outlook.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50