Don’t Call It QE
Federal Reserve Chairman Jerome Powell this week insisted that a plan to buy Treasury bills to build up excess bank reserves wasn’t the same thing as the central bank’s previous asset purchases, known as quantitative easing, or QE for short. Markets, however, reacted similarly to how they behaved during QE, with risky assets like stocks rallying and the Treasury yield curve steepening. Medley Global Advisors Macro Strategist Ben Emons and Bloomberg reporter Luke Kawa discuss the significance of the Fed’s latest move. Mentioned in this podcast: A Repeat of 2018’s Rout Is Likely Coming, Veteran Investor Says Nonsense Market Moves Have Investors ‘Exhausted’ by Trade Talks