, Columnist
Markets Can No Longer Rely on the Fed 'Put'
Policy makers are more worried by the risk of not raising rates enough than pausing because stocks are down. Also, the Brexit plot thickens.
Federal Reserve Chairman Jerome Powell may disappoint investors.
Photographer: Bloomberg
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Not unlike the typical U.S. family trying to survive the Thanksgiving break altogether and under one roof, the Federal Reserve and the stock market have a tense relationship. Both sides like to believe that they are in charge. And as Thanksgiving approached, there was a growing sense the Fed might accede the stock market’s wishes and signal that it’s poised to maybe stop raising interest rates.