Something truly astonishing is happening at the Fed.
The Fed FOMC minutes for July contained an incredible admission although most missed it. During that meeting Fed officials implicitly admitted that the Fed had no clue about inflation.
This admission was largely swept under the rug. But we took note. And we started preparing accordingly. However, even we did not think the Fed would start broadcasting this admission on a near weekly basis.
Fast-forward to last week and Fed Chair Janet Yellen openly admitted that the Fed does not “fully understand” inflation. And then just this morning Yellen stated that the Fed was “wrong” employment and inflation.
Remember, this is THE FED we’re talking about: the group of individuals responsible for maintaining financial stability. And its leadership is now openly admitting that A) they’re wrong about the most important aspects of the economy and B) they don’t understand why this is!?!?
Already, “sticky inflation” or inflation for prices that are slow to change is now above the Fed’s 2% target.
And now the Cleveland Fed’s Median CPI measure has broken above 3.0%.
Put simply, the Fed has let the inflation genie out of the bottle. Yellen and her cohorts are now frantically trying to invent excuses for when inflation rips through the financial system.
This is THE trend of the next six months. If you’re not taking steps to actively profit from this, it’s time to get a move on.
We published a Special Investment Report concerning a secret back-door play on Gold that gives you access to 25 million ounces of Gold that the market is currently valuing at just $273 per ounce.
The report is titled The Gold Mountain: How to Buy Gold at $273 Per Ounce
We extended out deadline on this report based on Janet Yellen's testimony this morning, but today is the final day this report will be available to the public.
To pick up yours, swing by:
Chief Market Strategist
Phoenix Capital Research