The index increased by 59% under Yellen's four-year tenure and rose 39% during Ben Bernanke's eight-year term through January 2014.Īmong investors' most immediate concerns are whether a recent inflationary surge will prove more sustained than the Fed had expected, pushing the central bank to accelerate the unwinding of its $120 billion-per-month bond buying program and raise rates earlier than anticipated. The S&P 500 has risen around 70% under Powell, fueled in-part by extraordinary measures taken during the coronavirus pandemic.
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