Did the Fed’s New Chair Seem Nervous to You?

Was it just me or did the new Federal Reserve Chairman seem very nervous?  I have watched countless Fed press conferences over the years, but from recent memory, Bernanke or Yellen always spoke slowly and deliberately from the very beginning and with the utmost confidence.  I don’t want to be super hard on the guy, I mean it’s a daunting job I am sure.  Every word you say can wipe of trillions of dollars from market value at any given moment.  But the word ‘dithering’ sprung to mind in listening to him start to answer reporters questions.

Had I been long the market I would have been yelling at the screen for him to stop talking, for every “um” and eh” that came out points where evaporating from the S&P 500 LOL.

Anyway I am sure next time he will do better.  On the plus side, he wrapped up the questions in less time than previous fed chairs while still managing to answer just as many as previous incumbents, and he did get better as time went on.  So let’s hope he steers the ship to more prosperity.

The real news of course was another rate hike of 25 basis points, with the possibility of 2 more for 2018.

Good Trading,

John