Why does the Swiss National Bank (Central Bank) buy U.S. stocks?

Currently, there are two main central banks that are purchasing stocks. Those two banks are the Bank of Japan and the Swiss National Bank. But why is this the case? Well in the case of Japan, one of the reasons is that the Bank of Japan wants to induce a “wealth effect”. The idea is that if people feel richer because their stocks/assets are up, then they will spend more.

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