Nothing surprised us in the Fed’s prepared statement. The Bernank remains Indefinitely Dovish.
- Inflation – he finally admitted it’s there
- Growth – he talked it down (because his US GDP forecast was wrong by a lot, again)
- US Dollar = DOWN
- Gold = UP
- Oil = UP
The Bernank perpetuates The Inflation but takes no responsibility for it. The ongoing risk of a US Currency Crash remains.
Keith R. McCullough
Chief Executive Officer