New Federal Reserve Chair's Impact on S&P 500 Performance

Jeffrey Hirsch, CEO of Hirsch Holdings and publisher of the Almanac Trader, posted on X that the appointment of a new Federal Reserve Chair is not expected to have a bearish impact on the market. Historically, the S&P 500 has shown positive performance three months after such appointments, with a 60% likelihood of being higher. When excluding periods like Meyer’s Depression and Greenspan’s 1987 crash, the frequency and magnitude of gains increase. On average, the S&P 500 sees a 12.7% rise over one year, with a 90% chance of being higher.