Why Dow 28,000 could mark that ‘blowoff top’ bears have been predicting

Shawn Langlois
Why Dow 28,000 could mark that ‘blowoff top’ bears have been predicting

Last month, the Fed began snatching up short-term Treasury debt to the tune of $60 billion per month in response to the repo mess that sent a chill through Wall Street back in September. While it might sound like another round of quantitative easing, Jerome Powell wanted to make it clear: It’s not. “In no sense is this QE,” he said. One blogger isn’t buying it.