The stock market rises on days when the FOMC releases its policy statement, probably as a result of some uncertainty being removed for market participants. This pattern has existed for more than 30 years. The Fed's ability to "jawbone" the market higher is no more exceptional now than it was during any prior bull market.Morgan Stanley's (NYSE:MS) chief economist this week stated that the Fed's low-rate policy and "jawboning" are responsible for most of the stock market's gains since 2009. In doi…
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