March 11, 2023
Since last week:
The low unemployment rate is holding strong, and the Fed believes that’s a problem for getting inflation under control.
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1. The Fed’s Turnaround
Chairman Powell has gone on record saying that interest rates might need to rise higher and possibly faster. This is in contrast to what happened just a month ago, when he said that the deflationary process had begun. The labor market is still strong, so the Fed is taking on a hawkish stance that’s going to further erode wealth unless you do something to personally protect it.
2. First in Seven Years
For the first time in seven years, a new nuclear reactor starts up in the US. It’s the Vogtle nuclear reactor Unit 3 in Georgia, and it has entered the phase where it begins splitting atoms to generate heat. The reactor will be fully online by June according to Georgia Power. Increasingly, states are seeing we need nuclear to achieve our power generation goals, so it wouldn’t be a surprise to see more of this in the near future. It’s why uranium is only going to go up in value.
3. Gold Down, Not Out
Gold stumbled a bit after Chairman Powell’s most recent comments and thanks in part to the still-strong labor market. So the perception of a robust economy is weighing on the yellow metal, much to the chagrin of some gold bugs. For others, it simply continues to create an opportunity before everything turns around and gold becomes the haven investment many people know it as.
4. EVs in NYC
More New Yorkers and people in surrounding areas are getting into electric cars. Much of that is happening thanks to a change in perception about the vehicles and an expansion of the charging network needed to keep these vehicles running. The groundwork has been laid, and EV adoption is only going to continue going up from here. Lithium will be in demand more than ever, and the chance to profit from that will never be better.
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What to Look For:
Budget fights in Congress are going to dominate the news cycle for the next few days. Some of the president’s proposals likely won’t make it far, but they could be used as ammunition for the debt ceiling battle that’s also on the horizon.
Editor, Daily Profit Cycle