U.S. Treasury's Yellen Says 'China Shock' Was A Huge Loss Of Manufacturing Jobs In Parts Of U.S. That Have Not Recovered; Parts Of The U.S. Have Really 'Been Left Behind'; Free Trade Has To Be Something That Benefits People Throughout The Country; We Would Be Prepared To Use Authority To Sanction Chinese Banks If Necessary
Portfolio Pulse from Benzinga Newsdesk
U.S. Treasury Secretary Yellen stated in a Reuters interview that the 'China Shock' led to a significant loss of manufacturing jobs in the U.S., with some regions yet to recover. She emphasized the need for free trade to benefit the entire country and mentioned the possibility of sanctioning Chinese banks if necessary.
April 25, 2024 | 2:29 pm
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NEUTRAL IMPACT
Yellen's comments on the 'China Shock' and potential sanctions on Chinese banks may influence market sentiment, potentially affecting the SPY ETF.
While Yellen's comments shed light on the economic impact of past policies and hint at future regulatory actions, the direct impact on SPY is uncertain. SPY, being a broad market ETF, may see some volatility due to changing market sentiments regarding U.S.-China relations and trade policies. However, the lack of specific policy announcements at this time makes the short-term impact more speculative.
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IMPORTANCE 60
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