About

The Most Expensive "Good Afternoon" refers to the greeting from the US Federal Reserve's Chair Jerome Powell, whose first words during monetary policy meetings allegedly cause the value of stocks and other assets like cryptocurrency to drop, resulting in millions of dollars of paper losses, if not more. Online, Powell's "Good Afternoon" is either used in video edits that play phonk music, or shown by content creators with their trading screens open, presenting a sharp drop in the charts.

Origin

Jerome Powell became Chair of the US Federal Reserve in February 2018, and has regularly dictated the Fed's stance on fiscal interest rates in its Federal Open Market Committee meetings ever since.^[1]

Spread

Powell's greeting began gaining attention in 2024, after users posted short-form content with phonk music on TikTok, and content creators uploaded videos on Reddit showing huge drops in real-time trading charts coinciding with the beginning of Powell's announcements, even before he has declared the Fed's decision.^[2][3]

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