The Associated Press
Get ready for Fed day. On Wednesday, the Federal Reserve will release its latest monetary policy report followed by chairman Ben Bernanke's second consecutive press conference to answer any and all questions. (Seriously, there are no stupid questions.)
While no one expects the Fed to make an adjustment to its ultra-low key interest rate, the statement and Mr. Bernanke's post-statement remarks will be scrutinized for clues on what the central bank makes of the current economic slowdown and whether it feels another round of economic stimulus is needed.
In the meantime, Bespoke Investment Group has done some number crunching to see how stocks have fared on Fed days during ZIRP (or zero interest rate policy). On average, the S&P 500 has gained 0.74 per cent, or about double the average gain since 1995.
David Berman