Fed Props Up Stock Prices

Wall Street Journal: “They say the Fed’s extraordinary interventions — which include lending programs and asset purchases—make equities more attractive to hold with government bond yields near zero and other havens like gold also near peaks. Meanwhile, many hope Congressional stimulus measures will help carry businesses and consumers through the lockdowns. But some analysts caution that restarting global commerce will be a slow, painful process, prompting some worries that stocks are rising too quickly.”