I’m no attorney. I’d think it would have to be at the federal level though. This violates checks and balances by mixing the executive branch in with a Congressionally mandated independent agency.
— Danielle DiMartino Booth (@DiMartinoBooth) May 31, 2020
Major Central Bank Balance Sheets end the month with new records:
Total Assets: $20.74 Trillion
Percent GDP: 48% Q1 GDP
— Not Jim Cramer (@Not_Jim_Cramer) May 30, 2020
Fed bought >$3 billion in ETFs in May. Junk bond holdings here include Hertz, JC Penney, Nieman Marcus, and Whiting Petroleum. Because of course they do. LOL.
Nothing matters. t.co/FVPvTDe5pl
— Ben Hunt (@EpsilonTheory) May 29, 2020
Opinion: By buying up "junk" bonds, the Fed is offering the globe’s wealthiest investors the chance to purchase high-yield bonds.
They’re being presented with all the upside that comes with a junk bond, but none of the risk that, before now, made it junkt.co/qcFn9J0ZHl
— POLITICO (@politico) May 28, 2020
Here are the Fed's ETF holdings as of May 19, ordered by aggregate market value. pic.twitter.com/0yVKfcvke8
— Ernie Tedeschi (@ernietedeschi) May 29, 2020