Video News/Kitco Mining

The Federal Reserve got ahead of itself earlier this year thinking it had inflation whipped, said James Fishback, co-founder and chief investment officer at Azoria. Fishback spoke to Kitco on Tuesday. Back in December, the market was expecting more rate cuts than it will get this year. Fishback said the Fed and Chair Jerome Powell erred when it had its "mission accomplished December Fed meeting" and the markets priced in several rate cuts in 2024. Hotter-than-expected inflation data squashed lowering interest rates.