Yellen Replacement Looking at Potential ETF-Wacky Stock Market Phenomenon
The newly-confirmed head of the Federal Reserve said that the central bank is exploring how increasingly popular passive investment vehicles are impacting financial stability. Jerome Powell, appearing before Congress for the first time on Tuesday, said he didn’t believe Exchange Traded Funds (ETFs) were responsible for recent stock market volatility, but claimed the Fed is keeping its eyes open. “I don’t think they were particularly at the heart of what went on in those days,” Powell said. “It’s a question we’re looking into,” he added.…