It Won't Be Different - A Matter of Time Federal Reserve easing in 2025, despite the greatest stock market inflation since 1928-29, may be a top force buttressing consumer prices and what parabolic rallies in gold and silver sniffed out. History might view the New York Fed as responsible for beginning to raise its discount rate in 1928, as the stock market bubble surpassed 2x GDP, compared to today's Federal Reserve, which began cutting rates last year despite stock market-cap-to-GDP reaching a similar extreme premium as almost a century ago. The chart highlights what might have shifted to a 10 on a 1-to-10 scale for buoyancy in most markets -- notably metals, cryptos and US Treasury bond yields: the stock market has to keep going up. Affordability has become a central issue in elections, which may augur an approaching endgame for risk assets. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tffla8kiupy0 {BI COMD} #gold #stockmarket #cryptos #bonds #FederalReserve @BBGIntelligence