We saw a big selloff in the gold market last week and the price dropped below $2,000 an ounce. The catalyst for that selloff was tough talk from several Federal Reserve officials and an increasing expectation that the central bank will raise rates again in June. As Peter Schiff explained in his podcast, everybody thinks the Fed is going to win the inflation fight because it is going to be even tougher. In reality, they are talking tougher because they are losing the fight.
On Thursday, Dallas Fed President Lorie Logan said she’s concerned that “much too high” inflation is not cooling fast enough to allow the Fed to pause its interest-rate hike campaign in June.