U.S. Treasury Secretary Yellen Said $8.5B In Covid-era Investments In Community Development Financial Institutions And Minority-Owned Banking Firms Will Boost Lending To Black And Latino Communities By Nearly $140B Over A Decade
Portfolio Pulse from Charles Gross
U.S. Treasury Secretary Yellen announced that $8.5 billion in Covid-era investments in Community Development Financial Institutions and minority-owned banking firms will increase lending to Black and Latino communities by nearly $140 billion over a decade.
October 25, 2023 | 6:37 pm
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The announcement by U.S. Treasury Secretary Yellen about the $8.5 billion investment may not have a direct impact on SPY as it is a broad market ETF. However, it could indirectly influence the ETF through its holdings in banking firms.
The news is about a regulatory decision and credit investments, which could indirectly affect the banking sector. As SPY is a broad market ETF with holdings in various sectors including banking, it could be indirectly influenced. However, the direct impact on SPY is uncertain due to its diversified nature.
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