MarketWatch/Jonathan Burton/10-29-2022
“But the leading economic indicators are not what the Fed is focused on. If I was operating monetary policy, I would choose to drive by looking through the front window as opposed to the rear-view mirror. This Fed is focused on the rear-view mirror.”
USAGOLD note: Rosenberg does not have a high opinion of the current Fed saying that Powell has gone from “Bambi to Godzilla” and “a policy of damn the torpedoes, full speed ahead.” As a result, he sees the S&P 500 dropping 30% to 2700 and a 30% drop in real estate values. He says now that you get paid to be in cash “it is no longer trash” but makes no mention of gold.
