Much of the decline in the market since October can be traced to Fed jawboning over interest rates. "The labor market remains robust and likely a key factor supporting the Fed's continued rate normalization plans," says BNP Paribas economist Andrew Schneider. Under Yellen and Bernanke, their Fed took every opportunity to surprise and be even more accommodative to the market. For instance, in 2016 the market was expecting around five rate hikes from the Yellen Fed. Meanwhile, the Fed has not yet crushed the labor market as many are predicting is still in the cards.

Source: Forbes January 04, 2019 17:26 UTC