Fed Hasn’t Had Credibility Since Greenspan – Opdyke | Kitco News

from Kitco NEWS

lass=”” >Markets are still trying to pinpoint when the Federal Reserve will raise interest rates but according to one popular newsletter writer, they won’t pull the trigger until 2020. Speaking with Kitco News, Total Wealth Insider executive editor Jeff Opdyke, said the U.S. central bank can’t raise rates, ‘because there’s too many external events that we have to deal with that have absolutely nothing to do with what everybody is worried about — inflation or the jobs market.’ However, pundits argue that the Fed might be forced to tighten this year in order to maintain credibility. But, to Opdyke, ‘the Fed hasn’t had credibility since Greenspan.’ He added that given the weak global economy, safe-haven assets like gold stand to gain. ‘I fully expect you’re going to see, at some point, a complete financial reset in the Western economies and it’s going to be tied in some degree in gold. It always has been throughout history, this time is no different.’

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