In October, Wall Street gave the Federal Reserve its worst grade since Jerome Powell took the helm of the U.S. central bank earlier this year, docking points for a communications misstep early in October that sent U.S. stocks tumbling.
The report card is included in the New York Fed’s survey of primary dealers that each quarter elicits an assessment of the Fed’s communication with markets and the public over the prior six to eight weeks, using a scale of zero, for “ineffective,” to five, for “effective.”
