Fed correctly signals an easing bias - and there's no need to be concerned about it causing higher inflation

With the M2 money supply falling and disinflation deepening, the key question isn't whether the Fed should have switched to a loosening bias, but whether it will unwind its tightening fast enough.

After aggressive interest rate hikes and ongoing QT, the Fed has made its long-awaited shift to a loosening bias, with equities, bonds, gold and silver all rallying significantly in response.

In this update, I will unpack two key questions that many may have in response, being: 1) what exactly did the Fed announce? and 2) will it lead to a resurgence in …