The Federal Reserve?
It seems like it could have all sort of just been put on 'pause' for the duration of the pandemic.
It seems like it could have all sort of just been put on 'pause' for the duration of the pandemic.
When you consider that the appreciation of these markets only serves to widen the wealth gap, it becomes clear that the Fed's mandate is to preserve the wealth of the rich. They're pursuing "trickle down" economics at full speed, despite the overwhelming evidence that "trickle down" is a myth.
The US population is too busy arguing over race issues and partisan politics to realize the financial system is stealing from the poor and giving to the rich.
Pshh - the Fed is focused on hitting unemployment and inflation targets. Low yields in the credit market shifts investment demand towards equity.
The "downward pressure in the equity market" is also deflationary pressure and accompanied by a rise in unemployment. Just because the two coincide doesn't mean the Feds principal goal is high asset prices.