The Federal Reserve of the United States (FED) announced this morning that they will stimulate the economy by redeeming all open-ended asstes. Gigantic earlier measures did not prove to be effective and the bubble still burst.
CEO Binance CZ responds. Likewise, many other prominent cryptocurrency figures call this move as madness.
Federal Reserve prints money and buys everything they find
The United States has decided to support as much as possible the local economy and, above all, large employers. The Fed decided to buy a maximum number of open-ended assets to support the market and provide it with sufficient liquidity. The only problem is that there is no money. They will have to print.
For example, the founder of Morgan Creek Digital Anthony Pompliano responded to a surprising move that is absolutely unprecedented:
Remember the $700B program the Fed announced to buy Treasuries & mortgage-backed securities last Sunday?— Pomp ? (@APompliano) March 23, 2020
Remember how it was supposed to be the BIG solution?
Well they just announced they are increasing the $700 billion target to "unlimited" and will buy any type of bonds now.
CEO Binance CZ, who does not conceal his negative attitude to US monetary policy, added his comment.
Let's make an unlimited size bubble, so that it never bursts. https://t.co/BOUMA4UYII— CZ Binance ??? (@cz_binance) March 23, 2020