Celente: Here's What Happens if the Fed Doesn't Raise Interest Rates in May
Trends Journal publisher says he is long on gold.
Gerald Celente, the publisher of The Trends Journal, said during his “Trends in the News” video Thursday night that stocks on Wall Street popped earlier in the day because the bet is that the Federal Reserve will hold off on raising interest rates after the next meeting in May based on the strength of the latest CPI numbers.
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March marked the ninth consecutive month that inflation cooled, with the Consumer Price Index increasing 0.1 percent and 5.0 percent over the last 12 months. The index for all items less food and energy increased 0.4 percent in March (SA); up 5.6 percent over the year (NSA).
The Dow Jones Industrial Average was up 383.19 points, or 1.14 percent, to 34,029.69. The S&P 500 rose 1.33 percent to 4,146.22, and the tech-heavy Nasdaq Composite increased 1.99 percent to 12,166.27.
Celente said, “If they [the Fed] don’t raise interest rates — you go back to the Trends Journal cover from last week — “Death of the Dollar,” and that’s what’s going to happen.
Celente said a weakened dollar will continue to increase the price of the yellow metal.