The market reacts as the U.S. Federal Reserve announced effectively unlimited capital injections including a new array of direct asset purchase tools.
Last October, Ikigai Asset Management’s Travis Kling predicted central banks would have to “juice QE to infinity” in order to save markets from recession. Yesterday on “60 Minutes,” Fed President Neel Kashkari said that“there is an infinite amount of cash at the Federal Reserve. We will do whatever we need to do to make sure there is enough cash in the financial system.”
This was followed this morning by an announcement the Fed was giving itself effectively unlimited capacity to intervene in markets. Markets were…still not impressed. In less than two hours, an initial gain had entirely retraced.
On this episode of The Breakdown, @NLW looks at:
Disclosure Read More
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.