When the US central bank embarked on its QE journey back in 2008, it was the shock and awe of its day. However, a glance at the actions taken then look quaint compared to where we are today (see chart below). And the Fed has just gotten started.
(Click on image to enlarge)
Given how stocks have performed since the latest Fed QE to infinity move recouping 50% of its decline (SPX up 600 points from the 1200 point peak to trough plunge), clearly professional investors have once again embraced the Fed's decision to "do whatever it takes" regardless of the consequences that may result from such unprecedented actions and the numerous known unknowns and unknown unknowns that abound. This money-solves-all-problems mindset is truly remarkable. It's amazing what passes for prudent investment decision-making.
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