Uncertainty Into Stagflation Spooks Markets, Lifts Gold (Again)…

Today, Gold hit another all-time high as warnings from Federal Reserve Chief Jerome Powell about the impact of the trade war fueled volatility on Wall Street, leading to sharp declines in stocks and the dollar. Jerome Powell spoke at the Economic Club of Chicago on Wednesday and said that policymakers would balance their dual responsibilities of fostering maximum employment and stable prices, “keeping in mind that, without price stability, we cannot achieve the long periods of strong labor-market conditions that benefit all Americans. Powell repeated that the level of the tariff increases announced so far is significantly larger than anticipated. […]