Last week Federal Reserve Chairman Jerome Powell spoke at Jackson Hole and gave a hawkish outlook for interest rates. Fed fund futures are now projecting that interest rates are likely to get to 4% next year. The stock market fell after he spoke and so did the price of gold. The mainstream and and so called alternative financial media have been all focused on what he said, but others presented and spoke at Jackson Hole. It was a meeting of bankers for bankers.
At the meeting some argued that the Federal Reserve rate hikes are unlikely to actually stop inflation. If that is true what would that mean for the stock market and the price of gold?
I talk about that in this video.
Here is the research paper, mentioned in this video and presented by a Fed staffer at the meeting, titled Inflation As A Fiscal Limit.
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