The results of the Fed’s chronic interventions, its uber-accommodative policy, and its perennial low interest rates, are plain to see. Stock and bond prices have gone through the roof soaring to record highs on an almost daily basis. To appreciate the magnitude of this unprecedented 11 year bull market, it helps to know where it all began, that is, with the first round of Quantitative Easing (QE) that was launched in December 2008 when the Fed purchased $600 billion in mortgage-backed securities(MBS) and $100 billion in other debt. Naturally, when hundreds of billions of dollars are pumped into the financial system, prices rise.
https://www.unz.com/mwhitney/the-repo-fiasco-the-feds-cash-injections-send-stocks-soaring/
