by Mark Mead Baillie
GoldSeek
Welcome to winter as we type literally through the solstice here at 10:21 CET. And let’s start with a “Thumbs Up!” to one Elizabeth Morgan Hammack, graduate of THE Leland Stanford Junior University, today President of the Federal Reserve Bank of Cleveland, and who — as a voting member of the Federal Open Market Committee — had the “cojones” to not go in favour of last Wednesday’s -25bps reduction for the FedFundsRate to its new 4.25%-4.50% Target Range.
“So are you taking credit for her having read last week’s Gold Update, mmb?”
Heavens no, dear Squire. Rather, we’re just favourably impressed that — instead of being FinMedia-led as seems is the Fed — Ms. Hammock can do math sufficiently such as to realize inflation has been going the wrong way as precisely depicted in our prior missive. Brava Beth!