Richmond Fed's Barkin Says Expectation Of A Recession As Needed To Slow Inflation Has Not Played Out; Remarkable How Strong Consumer Spending Has Remained
Portfolio Pulse from Benzinga Newsdesk
Richmond Fed's Barkin stated that the expected recession to slow inflation has not materialized, and consumer spending remains strong.
July 17, 2024 | 1:17 pm
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POSITIVE IMPACT
Richmond Fed's Barkin's comments suggest that the economy is more resilient than expected, which could positively impact the SPY ETF as it reflects the overall market sentiment.
The SPY ETF, which tracks the S&P 500, is likely to benefit from the news that the economy is stronger than anticipated, as this could boost investor confidence and market performance.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50