Stocks and precious metals soared off the lows in March, thanks to Powell’s promise to do “Whatever It Takes” to support the economy and the markets following the widespread implementation of lockdowns to mitigate the spread of Covid-19. He delivered $3 trillion dollars in QE that almost doubled the size of the balance sheet in just three months. It did the job of boosting stocks back up to new highs while it stopped the bleeding in economic activity. Meanwhile the dollar dropped more than 10%. Gold and Silver soared to highs not seen in many years or ever.