CNBC/Jeff Cox/1-7-2022
“Investors have been preparing for the Federal Reserve to start hiking interest rates. They also know the central bank is cutting the amount of bonds it buys each month. On top of that, they figured, eventually, the tapering would lead to a reduction in the nearly $9 trillion in assets the Fed is holding. What they didn’t expect were all three things happening at the same time.”
USAGOLD note: And in our view, we are only in the early stages of that market reaction.……
