U.S. Treasury Secretary Yellen Speaking At WSJ Event Says Shelter Costs Are Continuing To Rise, But Expected To Come Down Over Time; Biden Administration Doing All It Can To Bring Down Prices For Consumers
Portfolio Pulse from Benzinga Newsdesk
U.S. Treasury Secretary Janet Yellen, speaking at a Wall Street Journal event, acknowledged that shelter costs are still rising but are expected to decrease over time. She emphasized that the Biden Administration is actively working to reduce prices for consumers.
December 12, 2023 | 2:58 pm
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NEUTRAL IMPACT
Yellen's comments on inflation and shelter costs may influence market sentiment and could have a stabilizing effect on the SPY ETF, reflecting the broader market's reaction to government efforts to control inflation.
While Yellen's comments are reassuring, the impact on SPY is likely to be neutral in the short term as the market has already priced in ongoing government efforts to manage inflation. The ETF's performance will continue to be influenced by a range of economic indicators and not solely by Yellen's statements.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50