President Trump has raised a lot of eyebrows recently with his comments saying that despite all the good going on in the economy and stock market, the DJIA would be “10,000 points higher than already a very high number” were it not for the Fed.  While it is hard to believe that the DJIA would be 10,000 points higher had the Fed not hiked rates, it is interesting to note that on FOMC days since Powell became the Fed Chair, that the DJIA has seen a cumulative decline of over 1,000 points.  Throughout history, Fed days have historically been positive market days, but under Powell, they have been nothing of the sort. Start a two-week free trial to Bespoke Institutional, and receive full access to all of our must-read content.

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