More from Markets
The market has sold off significantly the last three times that Powell has spoken. Are expectations lower this time?
This FOMC may be slow to recognize that a pivot, not a pause, will be required within six months in order to best preserve the economy.
After selling off a month ago, the stocks has hung in there. Then again, it's easier to hang in there when the rest of the market catches a bid.
The track record of what Jerome Powell has done to this market each time he speaks is often forgotten.
What happened on Monday, was largely profit-taking, pin action related to a couple of large names, and defensive selling.