That’s what Powell keeps saying.
 

Powell FOMC Statements

• The Fed is in a good place.
• Inflation expectations are well anchored.
• Services inflation heading lower.
• Refused 4 questions on the US dollar.

Wait until we see the impact of health care on services inflation. Then we can discuss point three.

That will be in just a few weeks.

And since oil appears to have bottomed, let’s see what happens at the pump and with energy prices.

Then in March and April huge tax refunds will do two things. The first is add to the deficit and the second is add to inflation.

Nonetheless, there were two dissents today in favor of rate cuts.

Silver

BREAKING: Silver prices rise above $120/oz for the first time in history, now up +68% this month.

Silver just quadrupled the S&P 500’s 2025 return in 29 days. pic.twitter.com/RlKstrhiWH

— The Kobeissi Letter (@KobeissiLetter) January 29, 2026

Copper

CHART OF THE DAY: Benchmark copper prices surge to a fresh all time high above $14,000 per metric ton. pic.twitter.com/GYaRydWpiZ

— Javier Blas (@JavierBlas) January 29, 2026

AI is making copper demand go crazy and

"The asset that is set up to go absolutely parabolic is copper."

Supplies are expected to fall short by more than 10 mn metric tons annually without more recycling and mining.pic.twitter.com/B3fdYxLmcp

— Rohan Paul (@rohanpaul_ai) January 28, 2026

Dollar Collapse

🔴The COLLAPSE in the US Dollar looks even more REMARKABLE when looking against individual currencies:

The Swedish Krona has surged +24.99% against the Greenback since January 20, 2025, the largest gain among major currencies.

At the same time, the Mexican Peso has jumped… pic.twitter.com/WPTaaDB5Tm

— Global Markets Investor (@GlobalMktObserv) January 28, 2026

Am I mistaken or do things look disorderly?

Related Posts

January 14, 2026: The Fed Has Missed Its Inflation Target on Ten Different Measures

The Atlanta Fed tracks various inflation targets. Let’s have a look.

January 28, 2026: Fed Holds Interest Rate Steady at 3.5 to 3.75 Percent. Two Dissents for Cuts

No surprises.

January 27, 2026: Trump Cheers a Plunge of the US Dollar “I Think It’s Great”

“Look at all the business we are doing,” says Trump.

And for a look at what health care will do to the PCE price index, please see Expect a Big Divergence This Year Between CPI and PCE Inflation

Rent and Healthcare go different ways in 2026. Plus there are huge timing issues.

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