Fed doesn’t want to ‘run through the bond market like an elephant’ – Chairman Powell
“It’s out of an excess of caution to preserve these gains for market function by following through,’ Powell said during his semiannual testimony before Congress. ‘I don’t see us wanting to run through the [corporate] bond market like an elephant snuffing out price signals, things like that.’”
USAGOLD note: The elephant in the room does not want to come off like … well … like the elephant in the room.
Repost from 6-16-2020