Follow the Fed, but Be Smart About It
We all know that investors and the financial media alike have become fixated on the actions of what was one time a very obscure body, the Federal Reserve Board of Governors. And it isn’t merely the financial media that increasingly focuses on the actions (or inactions) of this august body. Former Fed chairman Alan Greenspan became a celebrity, former Fed chairman Ben Bernanke is in high demand as a public speaker, and current Fed chair Janet Yellen was named Time Magazine’s “Person of the Moment.” It is obvious that Main Street also pays attention to the actions of the Federal Reserve.
Johnson, Robert, "Follow the Fed, but Be Smart About It" (2015). Faculty Publications. 18.