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28 September 2020

First Mover: As Central Banks Print $1.4B an Hour, Bitcoiners Bet on Federal Reserve 'Capture' - CoinDesk

First Mover: As Central Banks Print $1.4B an Hour, Bitcoiners Bet on Federal Reserve 'Capture' - CoinDesk


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According to Bank of America, that’s the pace at which central banks around the world have been buying assets since the coronavirus-related lockdowns started in March.

“For much of the past 10 years, Wall Street has proved too big to fail, and monetary policy markets have implicitly supported asset prices to boost economic growth,” Bank of America Chief Investment Strategist Michael Hartnett wrote earlier this month in a report.

Interest rates have already been cut close to zero, and the Federal Reserve is buying $80 billion of U.S.

Treasuries a month to keep markets afloat, with trillions of dollars more available through emergency-lending programs. .

One possibility is that the Fed will hold off announcements of new stimulus until markets take a fresh nosedive.

stocks is still up 3.4% on the year, and speculation is growing that the Fed might be unwilling to let stocks fall.

Lombard, says it’s a “term of art” trying to gauge how far stocks might have to fall before the Fed would step in. 

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