MACROSCOPE No. 37: The effect of the “Powell Put” and “Moral Hazard” on your portfolio

The U.S. Federal Reserve (the “Fed”), the most influential and powerful central bank in the world, was instrumental in helping the equity market find a floor on March 23. The Fed’s actions announced on that date contributed to the about-turn in investor sentiment that enabled markets to stage a historic rebound in ensuing weeks. However, the jury is still out on the long-term implications of the so-called “Powell Put.” Click here to read the rest of Macroscope.