This is why sovereign wealth fund is important …. We do have a sovereign fund already. It’s called the Fed. When times are tough they buy what need to be bought to control the markets BUT it’s in the law that the FED cannot buy equities or anything but bonds to control markets, Fed is also independent on the White House and congress. This is why White House and congress will use fiscal policy (stimulus ) when monetary policy is failing ( Fed). A sovereign wealth fund will basically let government especially White House buy riskier assets. Like … when things dip they can step in… on equities, crypto etc.. whatever the mandate is but clearly riskier assets than bonds. Majority of the countries in the world have sovereign wealth funds and they are some of the best hedge funds in the world. Long term view, filled with cash. Norway sovereign fund is one of the best in the world. A sovereign fund in America will become the biggest long only hedge fund in the world basically. This is disgustingly bullish long term for America. A new player has emerged.