Fed's Powell Says Not Clear That Conflict In The Middle East Is On Track To Have Economic Impact On The U.S.
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell stated that it is not clear whether the conflict in the Middle East will have an economic impact on the U.S. The statement was made during the FOMC press conference.
November 01, 2023 | 7:21 pm
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NEUTRAL IMPACT
The SPY ETF, which tracks the S&P 500, may be affected by the Fed's uncertainty about the potential economic impact of the Middle East conflict on the U.S.
The SPY ETF tracks the S&P 500, which is a broad representation of the U.S. stock market. Any potential economic impact from the Middle East conflict on the U.S. could affect the performance of the S&P 500 and, by extension, the SPY ETF. However, as Powell stated, it is not clear whether there will be any impact, hence the neutral score.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50