Monetary insanity and central bank race to zero continue.

The Federal Reserve balance sheet has exploded to 33% of GDP.
However, it is massively lower than ECB (53.9%) or BOJ (102%)
Monetary insanity and central bank race to zero continue. pic.twitter.com/h25TEn06l1
— Daniel Lacalle Official Account (@dlacalle_IA) August 25, 2020

And why would the Fed let the banks buy stocks with RESERVES, since QE is nothing more than a reserve swap? Methinks people will believe anything to justify their long equity positions and risk taking.
— Steven Van Metre – AI 👑 (@MetreSteven) August 25, 2020