*** NEWS RELEASE ***
The Federal Reserve Doesn’t Drive the Markets Any Longer
As the Federal Reserve is Poised to Raise Its Benchmark Interest Rate, Financial Expert Dan Celia Says Market Is Actually Driven by Trump Pro-Growth Agenda and American Optimism
PHILADELPHIA, Pa.—Where the rise and fall of markets once hinged on every action by the Federal Reserve, those days are long gone. Today, the markets are driven by the pro-growth actions of President Donald Trump to drastically limit government regulation on business, promote job creation and strengthen domestic manufacturing.
“I suspect that until tomorrow, there are a number of traders who will be watching Congress fairly closely,” Celia said his daily program, “Financial Issues.” “And I don’t think the markets will react much one way or another. If rates are not raised in September, we won’t necessarily see the markets go up. This is not a market that is being driven by the Federal Reserve. This is a market driven by enthusiasm and anticipation of a pro-growth environment. This is a market driven on the notion that we will see corporate tax reform and on the reality that investors have already seen a dramatic change in regulatory burden—and will likely see more.”
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