White House National Economic Adviser Brainard Says Corporate Profits Remain Elevated, President Biden Will Continue To Ask Companies To Pass Their Savings To Consumers
Portfolio Pulse from Benzinga Newsdesk
White House National Economic Adviser, Brainard, stated that corporate profits are still high and President Biden will urge companies to share their savings with consumers.
March 28, 2024 | 4:52 pm
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NEUTRAL IMPACT
The statement by Brainard may lead to increased scrutiny on companies within the SPY ETF, potentially affecting their stock prices.
While the statement directly addresses corporate profits and consumer savings, it does not specify any particular sector or company. This could lead to a general sentiment of increased regulatory scrutiny across the board, affecting companies within the SPY ETF. However, the impact is likely to be neutral in the short term as the market assesses the potential for actual policy changes or actions.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50