“BofA said another factor that will push up inflation is a renewed spike in commodity prices as the reopening of China’s economy will spark a wave of demand for oil. That, combined with supply issues stemming from the ongoing conflict between Russia and Ukraine, will put renewed pressure on oil prices, which dropped nearly 40% from their 2022 peak.”
USAGOLD note: This is not the kind of future the Fed has in mind……Of all the big banks, Bank of America is the most bearish by far. The bank is bullish on gold.
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