ML-Implode News - Fed Chair Yellen's Plan B: "Intervene Directly" In Stock Market

In a video conference last week, Fed chair Janet Yellen indicated that the Federal Reserve is mulling the idea of responding to downturns by buying corporate stocks, corporate bonds, and other non-traditional assets: "It could be useful to be able to intervene directly in assets where the prices have a more direct link to spending decisions," she said.
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If Janet Yellen thinks it's "useful" to buy or sell options, futures, shares, swaps, mortgages or other financial instruments, then what's to stop her from doing so? The Fed insists it is above any oversight or policy review by Congress.

The Fed is slowly transforming itself from a national bank with a dual mandate to a national hedge fund with a mandate to manipulate all markets.

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Fed Chair Yellen's Plan B: "Intervene Directly" In Stock Market