Fed's Powell Says Don't Think There's Been A Structural Change In Consumption; We May Have Underestimated Balance Sheet Strength Of Households, Businesses; There Can Still Be More Of That Than We Think In Terms Of Savings
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that there hasn't been a structural change in consumption. He also suggested that the balance sheet strength of households and businesses may have been underestimated, indicating potential for more savings than previously thought.
November 01, 2023 | 7:18 pm
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Powell's comments about the underestimated strength of household and business balance sheets could lead to increased consumer spending and business investment, potentially boosting the overall market, as represented by SPY.
Powell's comments suggest that households and businesses may have more financial resources than previously thought. This could lead to increased consumer spending and business investment, which would likely boost the overall market. As SPY is a broad market ETF, it could benefit from these potential developments.
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