New Fed Chair, Same Old Clueless Fed
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
There is a new sheriff in town, as the most powerful job in the world will now be manned by Jerome Powell, another dove in the long line of Fed bubble builders. This looks like the wrong choice for an economy that we have been told is doing so well. The free money train must stop, especially if we are being told the truth about the economy.
We can’t handle the truth; jobs stink even with a 4.2% unemployment rate. There is no Cap X spending and no growth but according to Fed Chair Yellen and President Trump, the recovery is almost complete, which is nonsense. The economy is a house of cards waiting to collapse, and equity markets are searching for a reason to go down.
With all the false promises that we are hearing, gold and silver are setting up to go into the next bull cycle. The key for the metals has been their ability to hold the key support levels and build a solid base. As long as support levels hold, the next bull market in metals is beginning and a run to $1,320-$1,340 is the first objective.