Yellen Says U.S. GDP Is A Good Strong Number, Economy Is Doing Very Well; Not Expecting Growth To Continue At That Pace, GDP Will Come In Around 2.5%; What We Have Looks Like A Soft Landing; See Good Strong Consumer Spending, Economy Is Doing Well
Portfolio Pulse from Benzinga Newsdesk
US Treasury Secretary Janet Yellen has stated that the US GDP is strong and the economy is performing well. However, she does not expect the growth to continue at the current pace, predicting a GDP of around 2.5%. She sees a 'soft landing' for the economy, with strong consumer spending.
October 26, 2023 | 5:33 pm
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NEUTRAL IMPACT
Yellen's comments on the US economy and GDP may impact the SPY ETF, which tracks the S&P 500 and is a broad indicator of the US stock market.
Yellen's comments on the economy and GDP can influence investor sentiment and thus the stock market. As SPY tracks the S&P 500, it is likely to be impacted by these comments. However, the direction of the impact is uncertain as it depends on how investors interpret her comments.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75