Federal Reserve
The Federal Reserve it can be argued has done a great job of propping up the economy during the Great Recession with its easy money policies led by Quantitative Easing 1, 2 and 3. However, the growth in the stock market and the low interest rate on our ballooning debt is artificial as a result of the Fed's policies. Dialing back of their latest bond-buying program, is the finesse move confronting the Fed for the next five years. If the Fed moves too fast, it could cool the recovery. If it moves too slowly, it could fuel asset bubbles or excessive inflation. With the stock market booming since the election of Donald Trump, these fears are heightened.

Repo Fix Requires Wall Street, Fed Collaboration

from The Wall Street Journal,

Strains in the repo market show a need to update outdated financial plumbing, investors say.

Recent tumult in short-term cash markets highlights what many investors say is an inescapable fact: The plumbing underpinning U.S. financial markets needs to be modernized. But few see an easy way to do it.

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