The Federal Reserve’s statement yesterday that inflation is below levels consistent with the central bank’s mandate for price stability means it’s time to buy gold, said Allen Sinai , chief global economist at Decision Economics Inc. in New York.
A newly elected Democratic president pushes a controversial tax increase through Congress without a single Republican vote. A veteran Federal Reserve chairman holds short-term interest rates at record lows. And the economy struggles to recover from a financial crisis.
Aug. 1 (Bloomberg) -- Allen Sinai, chief executive officer of Decision Economics Inc., talks about the Federal Reserve's announcement today that "economic activity decelerated somewhat over the first half of the year," adding that the Fed would take new steps as needed to boost the weakening expansion and reduce unemployment. Sinai speaks with Mark Crumpton on Bloomberg Television's "Bottom Line." (Source: Bloomberg)