A Fed Rate Hike May Be in the Cards on Sept. 16, and 36 Years of History Says the Stock Market Won't Be Happy (at Least Initially)
History implores investors not to miss the forest for the trees.
Overview
On May 22, the Federal Reserve entered a new era, with President Donald Trump's handpicked successor to Jerome Powell, Kevin Warsh, sworn in as the 17th Fed chair. It also marked a period of uncertainty amid this transition for the Dow Jones Industrial Average (DJINDICES:^DJI), S&P 500 (SNPINDEX:^GSPC), and Nasdaq Composite (NASDAQINDEX:^IXIC).
Warsh has wasted little time setting a new tone as head of the central bank. He's done away with forward-looking guidance in Federal Open Market Committee (FOMC) meeting statements and declared "the Fed's predominant focus right now should be on prices."
Fed Chair Kevin Warsh has declared that the FOMC will deliver price stability. Image source: Official Federal Reserve Photo.
Details
Source
Originally published at www.fool.com.