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Jim Rickards: The Fed finally broke something, so keep your eye on gold
By James Rickards
Daily Reckoning, Baltimore
Tuesday, March 14, 2023
It's often said that the Fed raises interest rates until something breaks. Well, something has broken.
The collapse of Silicon Valley Bank has really thrown Jay Powell and the Fed for a loop.
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Just last week Powell issued some very hawkish testimony before Congress about the need to maintain an aggressive stance against inflation. Markets were even factoring in an 80% chance of a 0.50% rate hike at next week's FOMC meeting.
But what a difference a week can make. ...
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