So, the Fed pumps $85B/month for 4 years into MBSs and T-bills, then drops to $75/month and continues with no end in sight. Why wouldn’t the stock market love it?
It’s somebody else’s money and the SE gets to make $$ off your children and grand children’s futures. What’s not to like about that?
I would feel more comfortable if the rise in the stock market is really fueled by company profits and not Fed manipulation.