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SDVY - Woops I Really Meant We Would Be Much Tighter - Jerome Powell
First Trust SMID Cap Rising Dividend Achievers ETF
Jerome Powell, Fed chair, attempted to put the stock market straight today by announcing that the Fed would do whatever was necessary to stop inflation.
This was a catch-up speech trying to turn around the feeling coming out of the FOMC meeting last week that the Fed was not really very serious about its inflation-fighting.
And, the stock market fell, something it had not done following the FOMC meeting last week.
Hopefully, Mr. Powell will live up to the promise to do whatever is necessary to stop inflation.