“Wake me up when September ends” – Green Day
LOS ANGELES, Aug. 25, 2022 /PRNewswire/ — September is fast approaching, and warnings of an aggressive rate hike are echoing the already worried, battered and beaten halls of Wall Street. According to BARRON’s and Wall Street the “S & P has averaged a 1% loss in September – dating back to 1928 – it’s worth month of the year.” “The same is true for the Dow Jones dating back to 1896, those are the worst monthly performances for both indexes in the calendar year. The probability of a three-quarter point interest rate hike in September has risen in the past week.” Another warning echoing throughout Wall Street “don’t fight the fed” is garnering headlines in addition to the worst performing month of the year many believe this upcoming September could spell disaster.
Patriots Serving Patriots Announces Fee Reimbursement “Stagflation Protection” on Many Retirement Options Ahead of Oct. Tweet this
JP Morgan forecasts another super-sized rate hike by the Fed in September given that “there was little evidence to date that inflation pressures were subsiding. Stronger than expected data, including solid retail sales reported last week and a blowout July jobs report, could make the case for another mega sized rate hike next month.”
JP Morgan’s Jamie Dimon warned wealthy clients there’s a chance the U.S. is heading into “something worse” than a recession” and that “storm clouds” were on the horizon, including federal monetary policies, Russia’s invasion of Ukraine and rising oil prices. The CEO of JP Morgan was said to have estimated the chances of a “soft landing” to be about 10%. Steve Forbes supported Jamie Dimon’s outlook and reiterated “a storm is brewing” and a “big financial crisis” is coming. Economist Nouriel Roubini said there are two options for the U.S. economy, given the Federal Reserve’s most aggressive tightening campaign in decades: an economic hard landing or inflation at a persistently high level. Roubini joins a chorus of prominent economists, including Goldman Sachs & Co. Chief Economist Jan Hatzius, who thinks it will be difficult for the central bank to avoid a deep and painful recession, also known as a hard landing.
Morgan Stanley’s Mike Wilson warns the summer stock market bounce is a “trap” and Blackrock stated the stock market’s summer rally “isn’t worth chasing” “the risk of disappointing earnings is one reason we’re tactically underweight stocks.” Citi’s Global Chief Economist Nathan Sheets stated “the recent economic data have been the central banks worst nightmare, on the one hand, I would say there is very clear evidence of a slowing in global demand and on the other hand, there is clear evidence that inflation pressures are persisting.”
Bank of America recently forecasted the Fed will be forced to cut rates in 2023 to fight a mild recession, “and if the Fed does trim rates to stimulate demand, it is likely that quantitative tightening – where the central bank sells assets to drain liquidity – will also have to end. Accoring to Rich Checkan, President and Co Founder of Assets Strategies International “what the Federal Reserve does next could send gold soaring to $2,400 per ounce within the next 12 months.” Checkan said the Fed will reverse course on its tightening once the economy starts to crumble, adding we’ve got one or two more rate hikes left in the U.S. before the Fed REDUCES rates. “I don’t think Powell is willing to risk a horrible recession, inflation is so much further away at this point from interest rates than what Volker started dealing with.”
Wells Fargo stated the “strong U.S. dollar has been hurting gold’s price, stealing it’s safe haven appeal, but this is not a game changer for gold which can still end the year above $2,000 an ounce.” Wells Fargo’s year end gold price target is still at $2,050 an ounce, which they see as reasonably achievable due to recession narratives.” Rob McEwen of McEwen Mining Corp. agrees with the market’s sentiment, “the Fed has created a monster with monetary expansion and low interest rates, it’s going to take quite a while to tame that.” Amid this economic turmoil, he sees opportunity in gold. McEwen predicts $5,000 per ounce gold in the next “two to three years” “It’s just a rotation in the market from one sector to another … when suddenly the mood shifts, and it becomes less optimistic, then you ask “How do I preserve what I have?” “And gold has fulfilled that function over millennia.”
Jeffries Group said “Gold remains an essential hedge as the threat of stagflation – an environment of low growth and higher inflation continues to grow” Jeffries maintained their long-term forecast remains in place for gold prices to push to $5,500 an ounce.
Patriots Serving Patriots Announces Fee Reimbursement “Stagflation Protection” on Many Retirement Options Ahead of October 1st 2022.
Patriot Gold Group saw record turnout for their “2021 Inflation Protection America First IRA” with our NO FEE FOR LIFE IRA for qualifying IRAs. Patriot Gold Group is expanding the benefits and features of our NEW Platinum Tiered “Inflation Protection NO FEE FOR LIFE IRA” and waiving fees for dedicated, secured, and insured storage of your safe-haven assets so that you—a fellow American—have one less thing to worry about. Patriot Gold Group has introduced our “Platinum Tiered No Fee For Life IRA” with additional benefits such as paying for non-qualified storage and insurance and registered and insured shipping on distributions.
Call the Patriot Gold Group at 800-974-4653 (GOLD) for exclusive details about our incentives, or if you simply have questions regarding current market performance. We’re here to help, be of service, and adhere to the principles that made Consumer Affairs recognize Patriot Gold Group as the Top IRA Gold & Silver Dealer nationwide for an unprecedented six years in a row (i.e., 2016–2022) A+ Rated with the Better Business Bureau.
About Jack Hanney Jack Hanney is the CEO & Co-Founder of Patriot Gold Group, and a nationally sought-after financial speaker and guest. Recently featured on Fox Los Angeles Good Day LA, Newsmax, OANN, and FOX23 Tulsa, he is frequently interviewed about the global health crisis and its impact on the global economy. Here: FOX23TULSAJACKHANNEY (PLEASE Click on LINK).
About Patriot Gold Group Patriot Gold Group (www.patriotgoldgroup.com) is a nationwide investment group with more than 50 years of precious metals investing experience. The company has been rated the Top IRA Gold & Silver Dealer by Consumer Affairs for an unprecedented six years in a row (i.e., 2016–2022), A+ Rated with the Better Business Bureau, has earned a 5-star TrustPilot rating, endorsed & sponsored by Donald J. Trump Political Consultant, Newsmax Host & Patriot Client Dick Morris.
SOURCE Patriot Gold Group
Leave a Reply