The US economy is technically in a recession, with growth slowing, consumer confidence stalling and new unemployment claims climbing, but the Federal Reserve says that it will continue with its aggressive policy of rate hikes to bring down inflation.

Jerome Powell, Federal Reserve Chairman, indicated last week that the Feds were committed to their chosen path, saying that another “unusually large” rate increase was on the cards for September. This week, Mary Daly, President of the San Francisco Federal Reserve echoed those sentiments, saying she expected the policy of rate increases to continue for a while and noting that the Federal Reserve is “nowhere near done” on its mandate of tamping down inflation. She said, “We have made a good start, and I feel really pleased with where we’ve gotten to by this point,” but there is still “a long way to go” to lower inflation from four-decade highs.”

The President of the Chicago Federal Reserve has also backed that play, saying that he would support a continuation of increases if inflation doesn’t fall.

With expectations for economic growth falling and warning signs of a recession trilling loud and clear, now is the optimum moment to buy gold. Don’t delay. Buy now.

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