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Market drops average 12 percent after new Fed chair, Ryan Detrick notes
Ryan Detrick, chief market strategist at Carson Group, notes that the average maximum drawdown in U.S. markets three months after a new Federal Reserve Chair is 12.0 percent.
Detrick adds that this average is skewed by some large drops, with the median drawdown being a more moderate 7.9 percent. He observes that the past three transitions have seen only modest declines.
Detrick has previously recalled the widespread bearish sentiment that greeted the start of the 2013 bull market. He has maintained an optimistic outlook since that period. Earlier this year, he noted the Carson Research Leading Economic Index continued to show strong U.S. economic growth.
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