WASHINGTON, D.C. — The Federal Reserve is undergoing a philosophical change that one market expert called a “pendulum swing,” reported CNBC.
Stocks saw a more than 800-point drop in the Dow on Wednesday as markets adjust to a central bank committed to raising interest rates.
“People are going to be scratching their heads, but they’re not really thinking back to the way the Fed used to operate,” said Michael Yoshikami, CEO and founder of Destination Wealth Management.
The recent financial market volatility has been caused at least in part by the Federal Reserve, and central bank officials may not mind.
Read the full article at CNBC.