Albert Edwards Doubts 'Greedflation' Narrative Behind Stock Rally, Points to Fed Liquidity Instead
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Albert Edwards, known for popularizing the term "greedflation," doubts the AI profit boom narrative driving record stock prices
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Edwards sees little evidence of surging profits to justify valuations, citing slowing earnings growth forecasts
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He argues loose monetary policy, not AI, is key reason the S&P 500 is at record highs
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Despite quantitative tightening, Fed liquidity injections offset that impact, increasing monetary base
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Edwards believes it's "all about Fed-induced liquidity" fueling the stock rally rather than AI transforming profits