Analysts holding out for the Fed to rescue the stock market might be waiting in vain, according to a Federal Reserve Bank president who warned investors that it isn't Jerome Powell's job to keep Wall Street happy.
“We’ve got to be monitoring the real side of the economy: There’s nothing in the Fed’s mandate that’s about making sure the stock market is comfortable,” Chicago Fed President Austan Goolsbee told the New York Times. Goolsbee had previously said the Fed was standing by to "fix" the economy if it believed it was broken.
