I just had a conversation with the a Canaccord’s Institutional Salesman who realized what we have been talking about relative to the current Fed.  They are more aggressive in how they handle developing crisis because the Fed and Treasury Department’s leadership has significant financial market experience and seem to know how to spot trouble and attack it aggressively.  As an example, Jerome Powell spent many years at Finance related firms including 7 years at the Carlyle Group, and Minnesota Fed President Neel Kashkari oversaw the Troubled Asset Relief Program (TARP) that was a huge part of the government’s response to the Great Financial Crisis of 2007-2008.  Add to that Treasury Secretary Mnuchin had a long investment career as a partner at Goldman Sachs and then as a fund manager prior to becoming Treasury Secretary.

My point isn’t that they know exactly what to do, but they sure know who to call quickly, and it has worked.

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