Bernanke- “This approach eased financial conditions in the past and, so far, looks to be effective again. Stock prices rose and long-term interest rates fell when investors began to anticipate the most recent action…
higher stock prices will boost consumer wealth and help increase confidence, which can also spur spending. Increased spending will lead to higher incomes and profits that, in a virtuous circle, will further support economic expansion. “
So there you have it. The stock market is the source of wealth and consumer spending, therefore rigging it to go up is all you need.
And he see’s no risk of inflation.
This guy is a raving lunatic.
Crude is at 86.38 on the verge of a breakout to a target of 105. When they announced QL1.5 on August 10 it was at 75.