A Poignant Moment In Financial History Sparks Stocks

On December 19th, the Fed chair announced a quarter-point hike in interest rates, and a bear market in stocks immediately ensued — even though the economy is strong.

Friday's performance by Mr. Powell was an extraordinary display of transparency at a pivotal moment. Neil Irwin, an economics writer at The New York Times, introduced the nation's No. 1 central banker and immediately asked the nation's most influential financial official if he had made a mistake by raising rates.

"I think the markets are pricing in downside risk," Mr. Powell responded. "They're obviously well ahead of the data."

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.

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