Uncle Sam’s SMCCF May Be Life Insurer CFOs’ New Friend: Moody’s Analysts
April 1, 2020 by Allison Bell
The Federal Reserve Board has rushed to create a large menagerie of funds that will try to keep deals happening in U.S. investment markets, by buying certain types of assets, such as commercial paper, and investment-grade corporate bonds.
Critics, including Jim Bianco, say that the Fed is exceeding its statutory authority and, in effect, helping the U.S. Treasury nationalize large parts of the financial markets.
Supporters say the Fed is simply nursing the investment markets through the upheaval caused by the effort to control the COVID-19 pandemic.
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