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Jim Rickards: Jerome Powell Caves to Market

Jim RickardsDaily Reckoning, Released on 1/7/19

Fed Chair Jay Powell just sent the most powerful signal from the Fed since March 2015.

He has pretty much taken a March 2019 rate hike off the table until further notice. At a forum hosted by the American Economic Association in Atlanta last Friday, Powell used the word “patient” to describe the Fed’s approach to the next interest rate hike.

When Powell did this, he was reading from a script of prepared remarks in what was otherwise billed as a “roundtable discussion.”

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Jim Rickards is a lawyer, investment banker and economist with over thirty years’ experience in capital markets. He is currently Chief Global Strategist at Meraglim. He advises the Department of Defense, the U.S. intelligence community, and major hedge funds on global finance, and served as a facilitator of the first ever financial war games conducted by the Pentagon. A frequent guest on financial news programs, Rickards is also the author of The New York Times bestselling novels Currency Wars: The Making of the Next Global Crisis and The Death of Money, as well as The New Case for Gold (2016) and The Road To Ruin: The Global Elites’ Secret Plan for the Next Financial Crisis (2016).

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