by Craig Hemke
Sprott Money
Though we just wrote about this last week, Tuesday’s “emergency” fed funds rate cut demands that we write this update. Why? Because the bond market action in the hours since foreshadows even more cuts later this month, and this will have direct implications for gold, silver, and the U.S. dollar.
So let’s begin with last week’s link. If you missed it, that’s OK. Here’s your chance to read it now: https://www.sprottmoney.com/Blog/powell-painted-in…
It was just eight ( long) days ago that we explained for you WHY a fed funds rate cut was imminent. When that previous post was written, the yield curve in the U.S. looked like this: