The Fed’s Gamble on Dollar Credibility

IN the middle of the Covid-19 pandemic, a big gamble is going on. Like a player on a baccarat table who is completely assured of his victory, The Federal Reserve is going all in to save the economy and the financial market.The Fed is flooding the market, printing dollars to buy all kinds of assets, virtually without limit. Stock prices soared and formed V curve: a sharp rise after temporary drop.

The S&P 500 index, which fell from 3,400 at t

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