Today Federal Reserve Chairman gave his twice a year economic update testimony to Congress. Before he began to talk he released a big statement that said that interest rate cuts are not imminent. He said that he needs to see more evidence before he can lower interest rates. You’d think this would be bad for stocks, but the stock market, crypto, and gold and silver markets all went up anyway. I talk about why Powell is actually helping the markets all go up in the way he is now talking – and that means you should not worry about when the Fed will or will not lower interest rates anymore.
To read his testimony click here.
-Mike
