Federal Reserve Track Record
zerohedge pointed out the market tanked after 12 of the last Powell press conferences. Pales in comparison to this:
American history in the twentieth century has recorded the
amazing achievements of the Federal Reserve bankers. First, the
outbreak of World War I, which was made possible by the funds
available from the new central bank of the United States. Second,
the Agricultural Depression of 1920. Third, the Black Friday Crash on
Wall Street of October, 1929 and the ensuing Great Depression.
Fourth, World War II. Fifth, the conversion of the assets of the United
States and its citizens from real property to paper assets from 1945
to the present, transforming a victorious America and foremost
world power in 1945 to the world’s largest debtor nation in 1990.
Today, this nation lies in economic ruins, devastated and destitute,
The book of course, was written in the 1950's before inflating the bubble in the 90's ending with the burst of the dotcom bubble, as well as the bubble that ended in the morgage/banking collapse in 2007/2008. Which interestingly enough, is being done again.
Powell's job probably isn't the least stressful one on earth.