On Friday the DOW fell over 1000 points after Federal Reserve Chairman Jay Powell spoke and said that he was willing to have a recession if that is what it will take to beat down inflation. He explained his reasoning by looking back at what happened in the 1970’s and 1980’s with Federal Reserve policy and inflation, but the stock market actually fell for more reasons than the headlines about his tough talk. I explain the reality of stock market trends in the market this year and why the drop was no real surprise in this video update.
I also talk about what is happening with gold and gold stocks and when all this recession reality in the economy is likely to end too.
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-Mike
