With just 7 Fed Days left of his tenure including today, Chair Powell's time as head of the Fed is coming to an end.  And as shown below, the S&P 500 has gained 0.06% on average on Fed Days during Powell's tenure dating back to February 2018, which is actually the weakest of the four chairs we've had since 1994 when they first began announcing policy moves on the day of their meetings.  Ben Bernanke saw the best market performance on Fed Days with an average gain of 0.50%, followed by Greenspan's 0.26% gain and Yellen's 0.16% move.

Interestingly, the stock market has done well early in the day on Powell Fed Days, but it's the final hour and a half of the trading day that does him in.  The typical Powell Fed Day has seen solid market gains in morning trading through around 2:30 PM ET when the Fed's press conference usually begins, and from there, the trend has been for the market to tank into the close.

While Powell Fed Days are now known for seeing extreme market weakness into the 4 PM ET close, overall, the market has done well during Powell's tenure.  As shown below, since Powell became Fed Chair in early 2018, the S&P has posted an annualized total return of 14.3%, which ranks him fourth out of eight chairs dating back to 1950.

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