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A common narrative lately is that a lot of stock prices are highly correlated with money supply. E.g. The only reason 2021 bubble happened is because the FED printed trillions of dollars.

I wouldn't say its completely arbitrary given this has been a common discussion point.

No opinions on whether it has meaning, but wanted to add the relevance.

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The Fed isn't an acronym of initialism. It's short for the Federal Reserve so it's "Fed" not "FED" - I call this out for your benefit as the conspiracy theorists always capitalize it, and this reduces your credibility for the average reader. Just as writing BITCOIN would reduce my credibility in the eyes of the, er, renowned monetary theorist Tsartoshi.

When they CAPITALIZE it is that basically adding air quotes? In the sense of "The so-called """Fed""" " with a strong tone of sarcasm and distrust?

Just because it's a common talking point doesn't make it arbitrary.

Iirc, the fed also backstopped bonds and bought some stock

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