Fed Begins Buying ETFs

Turning Japanese. I really think so.

48
Tue, May 12, 2020 - 11:00am

Though the Fed Goons are out in force today with endless distracting headlines, the key event of the day is the beginning of The Fed's program of outright purchase of shares in select corporate bond ETFs. This significant expansion of their QE∞ activities was first detailed back in March but the program only began today.

And make no mistake, this IS a significant expansion of the QE∞ program. All of the other QE plans simply included the monetization of Treasury debt and corporate welfare for The Banks through the purchase of MBS. This new liquidity and market crisis is so severe...

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