Last week I wrote that the Fed is playing a new game and nobody knew the rules. I felt like I needed a week to get a handle on what to expect.
I was doing the research and I intended to post yesterday, but Excel got cranky with the data and I spent hours hunting down a glitch. Frustrating. Thanks, Microsoft!
At least enough time has transpired that we’re starting to get an idea of the impact of the Fed’s new game.
First things first. The Fed’s new emergency lending programs are not bullish. They may stop the bleeding for a while, but they are definitely not the same thing as “old fashioned QE.”
Here’s why, and what that means for investors. Non-subscribers, click here for access.
KNOW WHAT’S HAPPENING NOW, before the Street does, read Lee Adler’s Liquidity Trader risk free for 90 days! Act on real-time reality!