by Money Metals
GoldSeek
In a gripping Christmas-week interview, Mike Maharrey spoke with Michael G. Pento, a noted economist, portfolio strategist, and author of The Coming Bond Market Collapse, to dissect the Federal Reserve’s actions, inflation concerns, and the burgeoning U.S. debt crisis.
[…] Federal Reserve Policy and Inflation
Michael Pento expressed frustration with the Federal Reserve’s continued pursuit of its 2% inflation target, criticizing its mismanagement of monetary policy. Over the past 43 months, inflation exceeded this target, yet the Fed aggressively cut interest rates, including a recent 50 basis point cut. According to Pento, these actions aim to sustain bubbles in equities and real estate, provide relief to the government’s rising debt service costs, and support Treasury markets.