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Jay Powell: Yield Shield Or Pied Piper Of Disaster?

Summary:
Is there no limit to monetary interventions? Are they forever consequence free? Can every economic and market problem be solved by ever more intervention? Anyone like myself that has questioned the efficacy of the ever more aggressive interventions we see from crisis to crisis has found these questions to be moot as time and time again central banks have shown to successfully not only erase any corrective activity in markets but also propel markets to ever new highs irrespective of any earnings growth issues, valuations or fundamentals. https://northmantrader.com/2021/02/22/yield-shield/

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Is there no limit to monetary interventions? Are they forever consequence free? Can every economic and market problem be solved by ever more intervention? Anyone like myself that has questioned the efficacy of the ever more aggressive interventions we see from crisis to crisis has found these questions to be moot as time and time again central banks have shown to successfully not only erase any corrective activity in markets but also propel markets to ever new highs irrespective of any earnings growth issues, valuations or fundamentals.

https://northmantrader.com/2021/02/22/yield-shield/

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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