Fed sleeping
Once again, the Federal Reserve is on the stage, but this latest Fed press conference has a much different tone than all of the other ones we've seen since the start of this pandemic.
We've basically gone from shock and awe to Operation Yawn Factory. See, the Fed has already done all it can to stimulate the markets. It has expanded the balance sheet to its maximum limits, like a balloon holding way too much air, so it's not adding any more today.
At this point, it's up to Congress and the president to provide fiscal stimulus. Unlike the Fed, which serves the markets, the government has the power to print money right into peoples pockets.
So, since the money printer is taking a rest, the Fed is doing its best to speak softly (literally) so as not to wake up the markets. Basically, the more boring, the better.
We've gone from money printing to boredom. It's actually an improvement.
Hopefully, things will continue to improve (in other areas) during these most interesting times.
That being said, I hope you have an excellent day.
Best Regards!
