@JamesMarsh79 They are really doing it. Not even interest rates but direct participation in private enterprise. Not even Treasury, but CCAR type banks; is corporatism not even socialism
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there were rumors treasury took over federal reserve behind the curtain, not sure what to make of it
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That would be wonderful if true. WSJ editorial board, Bernanke, Yellen proposed that Fed should take over Treasury in March.
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they've been talking about this for ~6-7 weeks or so. https://www.institutionalinvestor.com/article/b1ktrscdcnn5zt/The-Corporate-Bond-Market-Is-Basically-Broken-Bank-of-America-Says …pic.twitter.com/0F2meaDUgR
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They are actually doing though. Starting early May which is now. I thought, hoped it might just be forward guidance. Nope, it is happening.
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Ellie but historically Fed has bought corps before. IMO it’s far better and less destructive than purchases of Treasuries. Latter are precious collateral in repo. With buying corps Fed directly injects cash into corp balance sheets.
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When did they buy corp before? I didn't know that.
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