The Presidents Working Group on Financial Markets also known as the Plunge Protection Team was created when Ronald Reagan was president, after the Black Monday Crash of October, 1987. The group is made up of 4 individuals. The Secretary of the Treasury(Steven Mnuchin), the Federal Reserve Bank Chairman (Jerome Powell), the Securities and Exchange Commission Chairman(Jay Clayton), and the Commodities Futures Trading Commission Chairman(J Christopher Giancarlo). The Plunge Protection Team steps via the US Federal Reserve Bank to halt stock market declines by buying Stock Market Index Futures Contracts through Investment Banks such as Goldman Sachs and Morgan Stanley. They put in large orders which are then probably front-run by the Investment banks so as to capitalize on what they know is a sure thing, because they see and are handling the huge trades originated by the US Federal Reserve Bank. The US Federal Reserve Bank pays for those stock index futures purchase by electronically crediting the accounts of the Investment Banks they buy the stock index futures from. This is essentially creating money out of this air, and will hurt the strength of the US Dollar, and will lead to a very bad recession, or even a second Great Depression.
Plunge Protection Team Exposed for Manipulating US Stock Market