Tuesday saw the release of disappointing CPI numbers that came in much worse than many expected. They show that core inflation continued to rise, which demonstrates that inflation is really a systemic problem. The odds of a Fed rate hike of 75 points next week jumped up to 100% in the fed funds futures market. It looks like this rate hiking cycle is going to 4% on the Fed funds rate or even higher now. The talk of a Fed pivot from the gurus proved to be nonsense. As a result, the recent stock market rally turned into a bear trap and the price of gold dropped too. At some point there will be a great buy point for gold, commodities, and related stocks. I talk about that in this video.
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