Very Bad Economy = Soaring Stock Market

What he said.
Fed vice-chairman says

that the Fed “will act as needed” to address the volatility of the current economic situation.

So the stock market goes up over 300 points.
Right. As Kevin said,

“Uncertainties about the economic outlook are unusually high right now,” he said. “In my view, these uncertainties require flexible and pragmatic policy making.”

Now see, if it were me I’d be running for the hills at this news.