I think the rate cut is a good sign of things to come, by this I mean more inflation, and further devaluation of the USD. I see no fighting chance for the USD in the long run.
The rate cut is a quick fix, but harmful in the long run. It’s clear, that a country that is defined by our over consumption and negative savings rate, when the fed must lower rates after being at 1% for so long, just illustrates how weak we really are.
Gold was up 8 dollars today, and looks close to a new 52 week high. I expect that gold will do even better after the rate cut.
