Fed's Collins Says Sees Only Limited Progress On Lower Core Service Ex-housing Inflation; Sees Evidence Labor Market Rebalancing; Remains Optimistic Economy Can Escape Recession
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Collins has stated that there has been limited progress on lowering core service ex-housing inflation. He also sees evidence of labor market rebalancing and remains optimistic that the economy can avoid a recession.
October 12, 2023 | 8:05 pm
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POSITIVE IMPACT
The comments from Federal Reserve's Collins may impact the SPY ETF. His optimism about the economy avoiding a recession could potentially boost investor confidence.
The SPY ETF tracks the S&P 500, which is a broad measure of the US stock market. Any comments from the Federal Reserve about the overall economy can have a significant impact on this ETF. In this case, Collins' optimism about the economy avoiding a recession could be seen as a positive signal by investors, potentially leading to an increase in the ETF's price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50