Jun. 17 at 7:38 PM
$GLD $SLV $GDX $JNUG $B
Who here can remember Trump & Powell during Dec 2018 & Summer of 2019?
The Federal finished raising interest rates in December 2018 & then stopped increasing them. During 2019, Trump became increasingly vocal in his criticism of Powell, arguing that interest rates were too high & should be cut to support the economy
For much of that year, Trump publicly pressured the Fed to lower rates, while Powell initially held his position. Eventually, however, the Fed changed direction. Instead of keeping rates high or raising them further, it began cutting rates in 2019, marking a shift from tightening monetary policy to making financial conditions easier
The rate cuts came fast:
July 31, 2019 First cut (-25 bps)
Sept. 18, 2019 Second cut (-25 bps)
also what began was the spike of overnight repos
Oct. 30, 2019 Third cut (-25 bps)
What was then is likely to become now once again. Remember if politicians did 10% of what they say there would be no need for heaven
