“ In light of global economic and financial developments and muted inflation pressures, the Committee will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate to support these outcomes . ” FOMC statement March 20
In layman's terms, earnings are falling off a cliff and we are trying to hold this together because if SHTF now when rates are at 500 year lows, we won't know what to do.
So if Full Year Earnings Expectations are down from 11.0% - 12.0% all the way to somewhere around 5%, in just 1 year, how is the SP500 basically flat?
Free capital market my ass. Its being propped up with free fiat that's how. Its just the bankers free fiat, you don't get any. Quite the opposite, they are diluting the value of yours.