In a Six-Day Span in March 2020, the Dow Crashed 5,676 Points; the Fed Responded with Almost $1 Trillion in Repo Loans to 24 Trading Houses

The Federal Reserve, the central bank of the United States, has a “dual mandate” to target inflation and to maintain “maximum sustainable employment.” The Fed has zero mandate to target a specified level for the Dow Jones Industrial Average or to prevent stock market crashes by printing money out of thin...