We already know that the economic deterioration will be far more severe than the Great Recession. That’s why the federal government has served up freakish amounts of stimulus.
In a similar vein, the Federal Reserve intends to do whatever it takes to stimulate stock and bond investment. The growth of its balance sheet has gone vertical. Literally.
The speed and the aggressiveness of the stimulus efforts propelled the SPDR S&P 500 Trust ETF (SPY) to retrace more than 50% of its bear market losses. The same pundits who failed to “call” any bearish price depreciation