The Fed Just Hit the Doomsday Button

“The Federal Reserve just pledged asset purchases with no limit to support markets”

https://www.cnbc.com/2020/03/23/fed-announces-a-slew-of-new-programs-to-help-markets-including-open-ended-asset-purchases.html

Never in my lifetime, perhaps?

An open ended offer to buy debt instruments including corporate bonds. Wow. The market was collapsing because Congress couldn’t come up with a deal yesterday and so the feds slept in this morning with this unbelievable announcement and it looks like the markets are holding.

As I think I posted weeks ago these are truly historic times and not in a good way