Shawn Snyder gets the cool comparison of the week award for how he compared what the Federal Reserve is doing to COVID-19.
Shawn Snyder told CNBC, “I think that the Federal Reserve and its actions, along with the fiscal stimulus we saw out of Congress, has sort of acted like a vaccine for financial markets that has helped it develop antibodies against risk. If you look during the global financial crisis, after 2009, the S&P 500 never corrected by more than 10 percent.”
Shawn Snyder’s point is a good one. The Federal Reserve has limited any major downside risk among big tech companies and other large S&P 500 listed corporations.
I get that there’s a lot of worry out there from investors and consumers but bull markets climb walls of worry, especially bull markets with the Federal Reserve leading the charge.
Shawn Snyder, head of investment strategy at Citi Personal Wealth Management, talks markets following a steep sell off of U.S. equities.