Was really convinced today was going to be the day that we saw some big pullback, and convinced me decided to keep adding as we kept grinding up. Went into a bit of drawdown and added more where I probably shouldn’t have, but hey. The drop was really quick! They say if it’s good enough to screenshot shot you should take profit. I say take profit at the absolute peak/bottom! 😭😂
Jerome Powell is stepping down as Chair of the Federal Reserve. Here is a look at his impact while holding his position:
-Guided the U.S. economy through the COVID 19 crisis by cutting interest rates to near zero and launching massive emergency lending programs to stabilize financial markets and avoid a deeper collapse
-Oversaw unprecedented monetary stimulus, expanding the Fed’s balance sheet through quantitative easing to support jobs and economic recovery
-Shifted to a more flexible inflation framework in 2020, introducing “average inflation targeting” to allow inflation to run moderately above 2 percent in support of stronger labor markets
-Managed the transition from low inflation to high inflation, later raising interest rates at the fastest pace in decades to bring rising prices under control
-Maintained a relatively strong labor market even during aggressive rate hikes, with unemployment staying low despite tighter policy
-Strengthened financial system resilience by continuing post 2008 reforms and rigorous bank stress testing, helping the system withstand shocks like the 2023 regional bank failures
-Improved transparency and communication, making Fed policy more accessible through regular press conferences and clearer messaging
-Responded quickly to 2023 banking sector stress by providing liquidity and acting to prevent broader financial contagion
-Maintained the political independence of the Federal Reserve despite pressure from both parties
-Navigated trade tensions, a global pandemic, inflation surges, and banking instability, making his tenure one of the most eventful in modern Fed history
Whatever your view of his policies, Jerome Powell leaves behind a legacy defined by steady leadership through extraordinary economic turbulence and some of the most consequential decisions in modern central banking.
This is the result of me constantly buying the dip early morning and selling on the runup. Seemed to keep working lol