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POSTED ON February 1, 2023  - POSTED IN Original Analysis

Federal Reserve officials insist they can still shrink the balance sheet significantly more than they already have.

You can file this assertion under the same category as “inflation is transitory,” and “the problems in the subprime mortgage market are contained.”

In other words, Fed officials have detached from reality — again.

POSTED ON November 21, 2022  - POSTED IN Original Analysis

Interest rate hikes get most of the attention as the Federal Reserve fights inflation, but balance sheet reduction is arguably more important. And it’s not going well.

Since the Fed stopped buying Treasuries and started letting bonds fall off its books as they mature, the bond market has experienced increasing volatility and liquidity problems. In fact, there is already talk about the possibility of the central bank abandoning quantitative tightening.

POSTED ON May 5, 2022  - POSTED IN Key Gold Headlines

The Federal Reserve came through with the second rate hike of this tightening cycle, bumping up the Fed Funds rate by 0.5%. It was the biggest interest rate boost by the Fed since 2000. But given the extent of the inflation fight, this hardly seems like a bold, aggressive move. In fact, it was a weak swing that looks more like shadow boxing. And one has to wonder just how long the Fed can stay in the ring.

POSTED ON February 18, 2019  - POSTED IN Key Gold Headlines

On Friday. Pres. Trump declared a national emergency. Based on that declaration, the president will reallocate $6.5 billion from other government programs to fund a border wall.

In his podcast on Friday, Peter Schiff said there is indeed a national emergency, but it has nothing to do with the border.

Of course, the real national emergency is not the lack of a wall, the failure to build a wall, but building up the national debt.”

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