If, as the Fed and WS pundits assert, the economy is growing and even employment is improving, why continue POMO operations? This is hard to understand unless the Fed is just willing to tolerate another bubble for stocks. So, with all systems go another round of POMO commences with nearly $9 billion of bonds monetized. Some suggest another $25 billion in excess weekly liquidity will push stocks higher. This is the admitted Fed goal--higher stock prices...READ MORE
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