'Biden Aides Working On Proposal For U.S. Sovereign Wealth Fund; White House Plans Similar To Investment Pool Floated By Trump; Jake Sullivan Among Aides Crafting Proposal In Recent Months' - Bloomberg News
Portfolio Pulse from Benzinga Newsdesk
The Biden administration is working on a proposal to create a US sovereign wealth fund aimed at investing in national security interests such as technology, energy, and supply chain links. This initiative is being crafted by National Security Advisor Jake Sullivan and his deputy, Daleep Singh, and is similar to a proposal by Donald Trump for a government-owned investment fund.
September 06, 2024 | 7:53 pm
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The proposal for a US sovereign wealth fund could impact broad market indices like SPY, as it suggests potential government investment in key sectors such as technology and energy.
The creation of a sovereign wealth fund could lead to increased government investment in sectors that are part of SPY's holdings, potentially boosting the index's performance.
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