Those cheering today’s sky-high asset prices say they don’t worry because “the Fed has the market’s back”
And they haven’t been wrong to-date. There’s no doubt that the Fed’s $trillions in monetary stimulus has pushed the prices of stocks, bonds, real estate and nearly every other asset class to all-time highs.
But the Fed’s ability to print money with impunity may not last forever. In fact, veteran money manager Bill Fleckenstein warns it could end this year.