June 30, 2023 (Investorideas.com Newswire) Powell said before the Senate that he didn't want a recession. Who would? However it can occur anyway, boosting gold prices. "The Economy Is Strong" Last…
June 30, 2023 (Investorideas.com Newswire) Powell said before the Senate that he didn’t want a recession. Who would? However it can occur anyway, boosting gold prices. “The Economy Is Strong” Last week, Powell testified before Congress. He reiterated many things he said during his recent press conference, but I believe that a few issues deserve our attention. First, Powell repeated that the Fed is strongly committed to combating high inflation and that additional rate hikes are coming. I wouldn’t be surprised to see the federal funds rate at or above 3% at the end of this year, which would make this tightening cycle the fastest in decades.
