I think what most people don't realize is that the pandemic is more of the pin that is popping the bubble. Remember the Fed was dropping rates all last year like a lead balloon and injecting liquidity in massive way last fall -- all before the virus.
If Covid-19 goes away overnight, I don't see the economy recovering and I think the Fed's actions have been catastrophic for the US dollar. They're literally hitching the country's solvency to the market to save it. Maybe it will work, sure, but were a bit in uncharted territory so I don't see where the confidence is coming from. And by doing this they have to be right; they're making it their hill to die on. If they're wrong, America will become a very different place.
If Covid-19 goes away overnight, I don't see the economy recovering and I think the Fed's actions have been catastrophic for the US dollar. They're literally hitching the country's solvency to the market to save it. Maybe it will work, sure, but were a bit in uncharted territory so I don't see where the confidence is coming from. And by doing this they have to be right; they're making it their hill to die on. If they're wrong, America will become a very different place.