How long can it be before the Fed starts buying stocks en masse? A week, two maybe?
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Indeed, they haven't. But they showed a willingness to buy "other stuff" in a crisis with TARP, to indirectly prop up equity values. To the extent that this is very much a real economy shock and not a financial shock, monetary policy may not do much. So what then?
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It's clear that at least one of the actual goals is "keep stock prices up". At what point do they just drop the mask on that?
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