Powell’s Testimony Is About to Start. What History Says the Stock Market Does Next.

The stock market was waiting for Federal Reserve Chairman Jerome Powell to begin his testimony to Congress before making a move. And now it’s heading lower. How does it stack up to history?

Everyone was waiting to see what Powell would say about the U.S. economy, the path of rate increases, and even the debt ceiling before making a move. And no wonder—a word from Powell has the ability to send the


S&P 500


soaring or knock it down a peg.