On Wednesday, we witnessed one of the most dramatic pivots ever seen from a central bank – one that’s started a full-blown economic crisis across the pond.

That’s when the Bank of England (BoE) announced it would begin purchasing gilts (UK government bonds) to stabilize its bond market.

This decision followed the government’s plan to cut taxes despite double-digit inflation. The move sent gilt yields soaring and sunk the pound by as much as 7%.

What’s striking is the move came just days before the BoE was set to begin quantitative tightening policies. Instead, it reversed course and began quantitative easing.

So here in the U.S., many wonder… Are we next to pivot?

Daily editor Teeka Tiwari says, “Don’t hold your breath.”

Unlike the U.K., the U.S. economy is stronger, so the Fed’s hands aren’t tied as tight as the BoE’s.

The Fed is raising rates now because it can’t stand by while inflation tanks our livelihoods.

Right now, the Fed has more leeway than the BoE… but eventually, it will face its day of reckoning.

At some point, it’ll have no choice but to lower rates to prevent a full-blown recession. And Teeka says that’s when we’ll see crypto and equity markets take off again.

So don’t waste time waiting for the Fed to change its tune.

Stay focused. Buy quality assets on the cheap. And be patient if you’re already positioned.


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Chaka Ferguson
Editorial Director, Palm Beach Daily