Fed Monetary Policy Hides Risk... Nothing More

zerohedge2021-08-19

The Federal Reserve has pumped trillions of dollars into the economy through itsquantitative easing programs. This has generateda surge of inflation. But there are other less obvious impacts from the ...

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精彩评论

CHUMOI
2021-08-19
CHUMOI
Ok
Annalz
2021-08-19
Annalz
Fed : a big head N a big headache
- Pluto891:
  yes
Foreverhuat
2021-08-19
Foreverhuat
Boo
ahleemama
2021-08-19
ahleemama
BOOM BOOM CHAO

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Nothing More\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-19 20:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/fed-monetary-policy-hides-risk-nothing-more><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Federal Reserve has pumped trillions of dollars into the economy through itsquantitative easing programs. This has generateda surge of inflation. But there are other less obvious impacts from the ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/fed-monetary-policy-hides-risk-nothing-more\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SPY","symbol_name":"标普500ETF","start_time":0,"source_url":"https://www.zerohedge.com/markets/fed-monetary-policy-hides-risk-nothing-more","article_id":"1142906661","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1142906661","pubTimestamp":1629377291,"columns":[],"sourceInfo":null,"weMediaInfo":null,"summary":"The Federal Reserve has pumped trillions of dollars into the economy through itsquantitative easing ","collect":0,"end_time":0,"defaultTopTitle":"zerohedge.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"translate_title":"美联储货币政策隐藏风险...仅此而已","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9},"content_text":"The Federal Reserve has pumped trillions of dollars into the economy through itsquantitative easing programs. This has generateda surge of inflation. But there are other less obvious impacts from the Fed’s extraordinary monetary policy.It conceals risk. Everybody sees a “booming” economy and assumes everything is fine. But underneath, the entire thing is rotting from the inside.\nIf we look closely,we can see the signs of misallocation and malinvestmentin the economy.\nFor instance, look at the bond market. Despite surging inflation, Treasury yields have remained stubbornly low.\nWhy?\nYou can thank the Federal Reserve.\nA 10-year Treasury still returns less than 1.5%. Given the current level of inflation, real returns dip below 4%. Why would anybody do this?\nEnter the central bank.\nThe Fed is buying billions in Treasuries through its QE program each month, keeping yields artificially low. That sends a signal to the markets that all of the federal borrowing and spending isn’t really problematic.\nBut if we look a little deeper, we see that over the last year, the Fed’s balance sheet has exploded to record levels. All of the money printing necessary to buy the bonds creates inflationary pressure. It also disguises the true economic risk, as economist Daniel Lacalle explained in an interview with NTD News.\n\n More money created is going to assets that are scarce. Be it equities in which the companies are buying back stocks – that is a direct consequence. The massive buyback of stocks is a direct consequence of quantitative easing, as well of cheap money — be it commodities, be it houses, be it scarce assets. It’s basically more units of money chasing scarce assets, and that generates inflation.”\n\nLacalle said despite the recent correction in commodities, looking at the overall price increases in both 2020 and 2021 makes it clear we’re seeing broad-based inflationary price increases.\nHe said extreme danger to the economy goes along with all this QE.\n\n The biggest risk of QE is that by having it prolonged year after year, in periods of crisis and periods of growth, is that the risk of a financial crisis is higher and that the importance of that financial crisis is also very relevant — it is much larger than expected.”\n\nIt’s important to remember risk builds slowly. With the markets going up and the economy artificially sedated via debt and monetary policy, the mainstream generally thinks everything is fine.\n\nSo, the risk continues to build and continues to build. And we don’t know exactly, because if we did we would be geniuses, but we don’t know exactly where and how it’s going to end.”\n\nLacalle said it’s the same as what happened leading up to the subprime crisis.\n\n Everybody understood the prices of houses were going up too fast and too much. But very few thought when and how that would end. And when it ended, a lot of people thought, well, it’s contained because it’s only a certain percentage of the economy and the rest is fine. But it creates ripple effects. So, the problem of quantitative easing is disguising risk and giving the idea to investors and to citizens that there’s absolutely no problem with governments entering into monster deficits that will lead the economy to run 100, 120, 200 percent of GDP debt.”","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":838870758,"gmtCreate":1629387478574,"gmtModify":1631890111837,"author":{"id":"3585564713983052","authorId":"3585564713983052","name":"CHUMOI","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3585564713983052","authorIdStr":"3585564713983052"},"htmlText":"Ok&nbsp;","listText":"Ok&nbsp;","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/838870758","repostId":1142906661,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":838186375,"gmtCreate":1629380907497,"gmtModify":1633685280369,"author":{"id":"3577089953267281","authorId":"3577089953267281","name":"Annalz","avatar":"https://static.tigerbbs.com/ffd285ab6189bb61da4b48c3e149eedc","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3577089953267281","authorIdStr":"3577089953267281"},"htmlText":"Fed : a big head N a big headache&nbsp;","listText":"Fed : a big head N a big headache&nbsp;","text":"Fed : a big head N a big headache","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/838186375","repostId":1142906661,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5580296,"gmtCreate":1629381658029,"gmtModify":1635147704626,"authorId":3581937910767045,"author":{"id":3581937910767045,"idStr":"3581937910767045","authorId":3581937910767045,"name":"Pluto891","avatar":"https://static.tigerbbs.com/c9963f2ef3d3ad2aff28340461d3d6d0","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":838186375,"type":1,"supId":0,"prevId":0,"content":"yes","text":"yes","html":"yes"}],"langContent":"EN"},{"id":838190264,"gmtCreate":1629379656858,"gmtModify":1631892149376,"author":{"id":"3580354890331124","authorId":"3580354890331124","name":"Foreverhuat","avatar":"https://static.tigerbbs.com/62fc823435d8b068f4f4c4263b83900a","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3580354890331124","authorIdStr":"3580354890331124"},"htmlText":"Boo","listText":"Boo","text":"Boo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/838190264","repostId":1142906661,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":838100186,"gmtCreate":1629378852145,"gmtModify":1631893944404,"author":{"id":"3585830139314556","authorId":"3585830139314556","name":"ahleemama","avatar":"https://static.tigerbbs.com/9e5556ad29b085a364d6ea7d326015c1","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3585830139314556","authorIdStr":"3585830139314556"},"htmlText":"BOOM BOOM CHAO","listText":"BOOM BOOM CHAO","text":"BOOM BOOM CHAO","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/838100186","repostId":1142906661,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":55,"commentSize":4,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1142906661"}