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Last week the Fed signaled that it is indeed expecting to cut rates next year, and since then, we’ve seen a sharp rally in the gold and silver, as the market begins to price in the inevitable.

In some ways it’s a bit shocking to see the Fed indicate it’s really thinking about cutting rates with inflation still significantly above its mandate. Yet in another sense, it’s reflective of what everyone’s known but didn’t want to say, in that the Fed has long ago been backed into a corner that doesn’t offer any easy exit.

So in today’s show, Andy Schectman of Miles Franklin talks about why Jerome Powell has fallen well short of Paul Volcker and explains the longer-term implications of the recent news.

Video Length: 00:26:55

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