This represents current opinion. There is also a MEME out there that tells us that the whole system is been restructured completely to eliminate the known control centers. This is desirable.
Trouble is that confirmation must come after the fact. Right now our role is that of a mushroom.
What is certain is that chaos presently is the order of the day on the trading floors, no matter what anyone says. I am glad to be far far away.
If these acronym programs were abused as I describe, they might indeed force markets higher than valuation warrants. But it would come with a heavy price. Investors would be deprived of the necessary market signals that freely traded capital markets offer to aid in the efficient allocation of capital. Malinvestment would be rampant. It also could force private sector players to leave as the government’s heavy hand makes operating in “controlled” markets uneconomic. This has already occurred in the U.S. federal funds market and the government bond market in Japan.