The Day After.
Powell said that inflation is hotter and more persistent than he had initially thought.
The bottom line, the U.S. is so in debt that the only solution is more debt.
With Bank of America looking for oil prices at $120.00 a barrel in six months, inflation just might not fall into a transitory framework.
Bond tapering starts this month, however, adjustments can be made depending on changing economic conditions.
Powell also let all of us know that he has other toys in his box to stimulate the economy.
In other words, the Fed will continue to spend, and spend till the end of time, when your in so deep, deeper is the only way.
Interest rates stayed the same, but keep in mind, even if next year rates start to increase it will happen in baby steps.
The silver price bounced after the report as buy stops were triggered at $23.00, the current price is just shy of $24.00.
Short-term technicals turned bullish as the price recovered sharply, of even greater interest, longer-term chart patterns showing potential upside breakout.
It appears that silver may be in a position to surpass gold on a percentage price increase over the next couple of years.
Much success to all.
London – Singapore – United States
Canada – Australia – China – Switzerland
Brinks – IDS – Loomis – The Perth Mint