There’s no free lunch. To increase its chances of getting inflation back down to 2%, the Fed has to be willing to push short-term interest rates higher when the economy doesn’t slow sufficiently and the labor market remains too tight. That increases the likelihood of recession. Volcker did what was necessary and beat inflation. Burns didn’t, and failed. How does Powell want to be remembered?
Gold, silver slide up to 2% as fresh US strikes on Iran fuel inflation fears, hurt peace hopes
Gold prices declined on Thursday as U.S. strikes on Iran boosted oil and fueled inflation concerns, impacting interest rate outlooks. Spot gold fell 0.8% to