Kris Sayce – Port Phillip Insider (Australia) –
Today, the US Federal Reserve did as the market expected. It raised interest rates. Yet Jim says that this won’t be the last rate hike. As he told Shae today: ‘I fully expect them to increase rates again in March.’
You can take that to the bank. If anyone knows what they’re talking about, it’s Jim Rickards.
So, they went ahead and did it. The Fed raised interest rates…just as everyone thought they would. Gold stars for everyone.
Now comes the next problem: What happens next?
First up, based on the performance of the US stock market this morning, there was definitely an instance of the ‘buy the rumour, sell the fact’ phenomenon at play.
After soaring over the past month, the Dow fell immediately following the Fed’s move.
Click to enlarge
That’s not all; the Fed appears to have thrown another spanner into the market by hinting that interest rates could rise quicker than investors expect.
Also in today’s issue:
- ‘High-order intelligence problem’
- No stopping this phenomenon
- Next US interest rate hike in March
- Reality strikes
- Shush! A recession is coming
-Subscribe to learn more at www.portphillippublishing.com.au (Paywall)-
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