The economy is already in a glide path to recession and the Fed’s quickening pace in terms of QT will accelerate the decline in stock prices and increase in bond yields, said Phil Orlando, chief equity market strategist at Federated Hermes, who recently increased his cash allocation to a 20-year high.
Gold heads for sharpest weekly decline in four months on Fed rate outlook
Gold prices took a hit on Friday amid strong indicators of US economic growth and climbing oil prices. Spot gold prices sank to their lowest