Stocks Had a Historic Run With Powell as Chair

Of the 11 Fed chairs since the post-Depression era, just five have presided over S&P 500 returns that beat the index’s long-run average of roughly 9% annually. Only Paul Volcker, who inherited runaway inflation and still managed a 15.6% annualized return while overseeing the central bank from 1979 to 1987, and G. William Miller, who served less than two years, finished ahead of him. Powell's tenure stands out among group, as he is the only chair in the top three of the list to lead the central bank during two S&P 500 bear markets.