Federal Reserve

Yardeni: Markets all rigged, it is what it is

Yardeni: Markets all rigged, it is what it is
Yardeni: Markets all rigged, it is what it is

The stock market is "rigged," but that's not necessarily a bad thing, strategist Ed Yardeni said Thursday, a day after the latest dovish signal from the Federal Reserve.

"I love these central bankers, they've been very good to the stock market," the president of Yardeni Research said in an interview on CNBC's "Halftime Report."

"This is not about investing, this is all about the central bankers," he added. "These markets are all rigged, and I don't say that critically, I just say that factually."

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Yardeni said the Fed's actions amount to an increased focus on asset prices that make the market prone to financial bubbles.

"The Fed shouldn't be in the business of asset bubbles and I think they still are. I think we're looking at a 'meltup' situation, potentially, in global stock markets, thanks to the central banks."

Yardeni cited the economic situations in China, Japan, Europe as evidence of a looming worldwide "meltup."

"It's happening in Europe, it's happening in China, it's happening in Japan and I think it could very well show up here again later this year maybe," Yardeni said.

Yardeni spoke a day after the Federal Open Market Committee removed the word "patient" about when it may raise its near-zero interest rates, but said it was unlikely to do so at its meeting in April.

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