/biz/ - Business & Finance

Stop the FED Money Printer! The FED is spending TRILLIONS of dollars to purchase junk, corporate, and fallen angel bonds

https://petitions.whitehouse.gov/petition/stop-fed-money-printer-fed-spending-trillions-dollars-purchase-junk-corporate-and-fallen-angel-bonds

The Federal Reserve Board has taken unprecedented action to purchase debt securities beginning with 1) expanded repo operations and treasury repurchases on 03/03/2020, 2) investment grade bonds, commercial paper, mortgage backed securities, and IG corporate bond ETFs on 03/30/2020, 3) junk grade bonds and junk bond ETFs on 04/09/2020. This multi-trillion dollar purchasing action has had the result of pushing up the prices of these securities AND the share prices of companies whose debt is being purchased. The illegal ramping caused by this purchasing is now allowing many of the Fed's cronies on Wall St to unload their shares of debt and equity securities at prices well above their fair value at tax payer expense.