(Money Metals News Service) Federal Reserve Chairman Kevin Warsh continues to project a tough stance on inflation, repeatedly promising to restore price stability and keep inflation anchored at the central bank’s longstanding 2% target. But according to Mike Maharrey in this week’s Money Metals Midweek Memo, markets are beginning to judge the Fed by its actions rather than its rhetoric—and so far, they aren’t convinced.
Drawing on the old adage “less talk and more action,” Maharrey argues that while Warsh has made forceful public statements about fighting inflation, the Federal Reserve has yet to take any meaningful policy steps to support those promises. That disconnect, he says, is beginning to influence bond markets and could ultimately strengthen the case for owning precious metals.
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