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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 445.60-10.1%Jan 30 4:00 PM EST
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To: bull_dozer who wrote (167700)1/27/2021 10:30:09 PM
From: bull_dozer  Read Replies (1) of 219941
 
Fed's Powell: Don't blame us for GameStop frenzy

Those thinking the latest and most glaring evidence of stock market froth - the more than tenfold increase in GameStop Corp shares in two weeks - might draw Federal Reserve Chair Jerome Powell into a “mea culpa” moment may be disappointed.

Powell, a former private equity industry attorney who knows a thing or two about a stock price, on Wednesday declined outright to comment on the extraordinary rise in the shares of an unprofitable company that seemed proof positive the market had become detached from reality.

In his press conference following the Fed’s latest two-day policy meeting, he pushed back on the suggestion that the Fed’s super-low interest rates and massive bond purchases were creating asset bubbles, such as the one apparently forming in GameStop that has transfixed market mavens and the general public alike.

reuters.com
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