Via Goldman:
How Does Fed Policy React To Stock Market Declines?
The equity market sell-off since the beginning of October has led to questions around whether the Fed will maintain its current path of rate hikes. Historically, the Fed appears to have responded with more accommodative policy after stock market sell-offs, on average (Exhibit 1). This has led some to conclude that there is a Fed “put,” in which the Fed responds to large stock market declines with accommodative policy, but does not change course when faced with small declines or increases in stock prices.