Shimmering silver

outlook for the Federal Reserve is mixed. On one hand, the US economy could be heading towards a recession next year. The November FOMC minutes stated that it was the ‘base case’. Slowing business activity, the cost of living, falling export demand, and higher debt repayments all point to the Fed needing to slow the path of rates. However, last Friday’s strong jobs prints suggest that the Fed may need to hike more aggressively and go higher than 5% next year. The headline was above the market forecast at 263K vs 200K expected and the prior report was revised higher. The Fed will not want to see a wage-price ...