So, my call for a rate cut by the FED at this December meeting was incorrect. However, that was just a mere technicality. Powell just engineered a “rate cut” without actually having to use his limited number of cuts available for the future and without losing any more credibility than he already has by past contradictions and inconsistencies. The market as I stressed in my earlier post was leading the FED by aggressively lowering rates ahead of them, as it always does. Last meeting Powell pushed back somewhat because the markets had gotten so far out ahead and the FED wasn’t ready to throw in the towel. Today he and they did. As I said in an earlier comment, they will be cutting in the first quarter and will try to get the cuts out of the way before the year gets too close to the election, unless the economy is in a tailspin. Both interest rates and gold and silver have confirmed the pivot.