Heather Zumarraga: The Market Volatility ‘Is Very Unnerving If You Are an Average Investor’

EXCERPT:

ZUMARRAGA: "It is very unnerving if you are an average investor in the marketplace right now. 1,000-point advance in the Dow has never been seen in history! This is coming on the back, though, of the largest decline on Christmas Eve that we have ever seen. We had over 600-point decline on the Dow, and for Christmas Eve, we have never seen that before. That is not a way to rein in the new year, and for Santa to come in bearing gifts, but look, the markets are up for a few reasons. We have certainty over Fed Chair Jerome Powell’s drop, the Fed Chair’s job is secure as the head of U.S. Central Bank. And that is really important, Tammy, because the markets want stability. We need to make sure that Fed Chair Jerome Powell and Treasury Secretary Steven Mnuchin will keep their jobs. I think they will."