Park Avenue Numismatics
5084 Biscayne Blvd, Suite 105
Miami, FL 33137
Toll Free: 888-419-7136
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Over 30 Years Experience
Park Avenue has over 30 years
experience buying and selling
Rare Coin and Precious Metals.
We have the knowledge and
ability to provide our customers
with the best products and services.
1.30.23 -
Gold last traded at $1,922 an ounce. Silver at $23.58 an ounce.
How one man's ego could plunge America into a recession -Business Insider
Jerome Powell was trying to save face. In November 2021, the Federal Reserve chairman was scrambling to redefine his public messaging on inflation, which had turned from a short-term pain, or in his words "transitory," into a much bigger crisis.
"I think the word 'transitory' has different meanings to different people," he said. "We tend to use it to mean that it won't leave a permanent mark in the form of higher inflation. I think it's probably a good time to retire that word."
In the 14 months since that testimony, Powell and the Fed have been on an aggressive mission to rein in prices - and reestablish their credibility as managers of the US economy. But just as their efforts have begun to produce signs of progress, Powell and the Fed face a new risk: going too far.
The Fed's ideal scenario in the months ahead is to orchestrate a so-called "soft landing," where inflation comes back down to their target level without causing a corresponding surge in unemployment or even a recession. But in order to achieve this outcome, many experts believe Powell and the Fed need to pause their aggressive interest-rate hikes.