Financial Briefs

It's notable that the stock market in 2019 has not suffered a 10% correction on worries about the China trade confrontation, the manufacturing slump or concerns about the U.S. political situation — three bad-news narratives currently haunting markets.

But look at this: The three major stock market drops in the past year were all related to the Federal Reserve Board's actions.

For months now, the actions of the Federal Reserve, as it works to extend the economic expansion into 2020, have driven the stock market — both up and down.