Jerome Powell is going to do his little legally-required charade on Tuesday and Wednesday mornings. He only does this twice a year in front of Congress, and the last time (June 21/22) is marked below in yellow tint. As you can see, that was right on the heels of what was a major bottom in the bear market, and once he shut up, the market went up for almost two months. Let’s just say it would be nice to have an upside-down version of that this go-around.
Here’s a sneak peek of his chat tomorrow, complete with the press slavishly hanging on to every single word and figuring out what our Financial Dictator deigns to share with us, peace be upon him.