Fed's Waller Says AI Not Likely Driving Productivity Gains Yet; More Likely Due To Pandemic Changes As Firms Adapted To Doing More With Less
Portfolio Pulse from Benzinga Newsdesk
Fed's Waller suggests that the current productivity gains are not primarily driven by AI advancements but are more likely a result of changes made by firms during the pandemic to adapt to doing more with less.
January 16, 2024 | 4:45 pm
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NEUTRAL IMPACT
Fed's Waller's comments on productivity gains may influence investor sentiment regarding the broader market, as represented by SPY, but the direct impact on the ETF is likely to be neutral.
While the comments by Fed's Waller provide insight into the Federal Reserve's perspective on economic productivity, they do not directly pertain to the performance of specific sectors or companies within the SPY ETF. Therefore, the impact on SPY is likely to be neutral in the short term, as the ETF reflects the broader market performance and not individual productivity metrics.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50