Yet another myth

"The Fed already buys and sells foreign exchange to prevent disorderly conditions in foreign exchange markets. The Fed has assumed a similar responsibility in the market for government securities. The Fed could support the stock market directly by buying market averages in the futures market, thus stabilizing the market as a whole. The stock market is certainly not too big for the Fed to handle." Robert Heller, Federal Reserve governor, WSJ, Oct 27, 1989

Such hubris like the flea floating down the river
on his back with a hard-on, howling "Open the drawbridge".