Apollo Global Management chief economist Torsten Slok: โSince SVB collapsed, the Fed has been adding liquidity, and the S&P 500 is up more than 10%."
"The high correlation between Fed net QE and the S&P 500 seen in the chart below suggests that Fed liquidity is a crucial driver of the stock market,โ
![](https://dismal-jellyfish.com/content/images/2023/08/image-53.png)