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Guggenheim’s Minerd Says Markets “Addicted” to Central Bank Stimulus By Bloomberg

by Mike Robinson

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© Bloomberg. Scott Minerd Photographer: Patrick T. Fallon/Bloomberg

(Bloomberg.) Scott Minerd is the Chief Investment Officer of Guggenheim Partners. He stated that central bank stimuli are making markets addicted. This role has never been seen in historical history.

Minerd stated Monday that the unprecedented stimuli the Federal Reserve gave the U.S. economy in the Covid-19 epidemic, along with similar central bank actions, have pushed monetary policy into new territory. They now account for factors like income inequality and gender inequality.

“For the time being we’re just addicted to this,” he said. “Central banks are functioning in a role that they were never designed to do,” he said, adding that central banks are now “running the markets.”

©2021 Bloomberg L.P.

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