Here's how the stock market has handled Fed decision days under Jerome Powell

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Since Jerome Powell took over the Federal Reserve, the S&P 500 index has averaged a gain of about 0.3% on “Fed days,” according to an analysis by Bespoke Investment Group:

Federal Reserve Chairman Jerome Powell will take the podium at the Eccles Building Wednesday afternoon for his 39th “Fed Day” since becoming the world’s most influential central banker back in 2018.

That’s better than the roughly 0.2% average gain for the large-cap index under Powell’s predecessor, current Treasury Secretary Janet Yellen, who served as Fed chief for just one term between 2014 and 2018. So far, 2022 has been a rocky year for stocks and bonds, with the S&P 500 down 19.6% as the Fed has aggressively raised its benchmark interest rate at the fastest pace since at least the 1980s to try and tame rampant inflation.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

It reacted… standard and poorly

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

What Fed Chair Powell can say to keep the stock-market rally going --- or kill itWhatever Federal Reserve Chairman Jerome Powell says when he steps up to the podium on Wednesday will likely have ramifications for financial markets. Basically all he can say is we're f***** and he resigns LPNational Hopefully he’ll resign as he has been a disaster Deep stuff..
Source: MarketWatch - 🏆 3. / 97 Read more »