Experts say the U.S. will experience a period of stagflation and gold is the preferred asset for protection!
On June 14, Adrian Day, chairman and CEO of Adrian Day Asset Management, thought it was funny that inflation would fall to 3.7 percent by the end of the year.
Day said the Federal Reserve is now too late to control inflation, in the "foreseeable future", the inflation rate will not return to 2%. He went on to predict that the U.S. economy will experience a period of stagflation.
Although Dye claimed that Fed Chairman Powell will fulfill his tightening promises, he said Powell will eventually succumb to pressure. Dye noted, "If we see a sharp rise in the U.S. unemployment rate, the Fed and Powell will choose jobs over inflation."
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