Fed Chair Powell Says Supply Side Really Recovered In 2023, Thought It Would Be In 2021, 2022
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell acknowledged that the supply side of the economy has significantly recovered in 2023, a development that was initially expected to occur in 2021 or 2022. This statement has implications for investors as it suggests improvements in supply chain issues that have previously hampered economic growth and market performance.
April 16, 2024 | 5:56 pm
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POSITIVE IMPACT
The recovery of the supply side may positively impact the Canadian market, as represented by EWC, due to improved economic conditions and trade.
Given that EWC tracks the Canadian market, the recovery of the supply side in the global economy could lead to improved trade and economic conditions in Canada, potentially boosting EWC's performance.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The S&P 500, tracked by SPY, may experience positive momentum following Powell's acknowledgment of supply side recovery, indicating a stronger US economy.
SPY, which tracks the S&P 500, is likely to benefit from the positive economic implications of a recovered supply side, as highlighted by Fed Chair Powell. This recovery suggests a stronger US economy, which is beneficial for the companies within the S&P 500 and, by extension, SPY.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80