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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.59

+2.2%

Dec 26 4:00 PM EST

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To: Intrepid1 who wrote (109306)	12/20/2018 10:13:40 PM
From: Rarebird	Read Replies (2) of 116830

Trump appointed well known Hawks to the Federal Reserve and now he is complaining that they are raising rates. Yellen was a Dove and the Federal Reserve reflected her orientation with a few members even more dovish than her. To be fair, it is difficult for the Fed to provide a smooth landing once it starts raising rates. More often than not, they raise rates too much and create a recession. That is what the market is discounting now. The reason why this happens is because the Fed is usually backward rather than forward looking; that is to say, they are obsessed with current data rather than what the data will be in 6-9 months. Greenspan pulled off a soft landing in 1994. Back to my original point: if Trump is really such a low interest rate guy, as he says he is, why did he appoint so many Hawks to the Federal Reserve? It just doesn't make sense unless he is bull shitting us.

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