from King World News
Today a Swiss firm issued a major report “Gold’s Best Friend.”
The Fed’s Most Convenient Lie
March 1 (King World News) – Matthew Piepenburg at Matterhorn Asset Management (based in Switzerland): Despite a penchant for double-speak that would make a politician blush, the Fed tells us that its primary focus is unemployment not inflation.
Let me remind readers, however, that an openly nervous Mr. Powell came out in the summer of 2020 with a specific, as well as headline-making, agenda to “allow” higher inflation above the 2% rate.
This “new inflation direction” ignored the larger irony that the Fed had been unsuccessfully “targeting” 2% inflation for years before changing verbs from “targeting” to “allowing.”