Stock Market Stimulus Required - Does Gold Get It? A 3% federal funds rate a year from now may already be priced in, if the loftiest US stock market in about a century is a guide, with underpinnings for gold. When the fed funds future in one year (FF12) dropped to the 3% threshold at the end of 2007, it was from a similar apex just above 5%, akin to 2022. At that time, US stock market capitalization-to-GDP was about 1.2x. Now it's 2.3x. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/t2h02bgq7l6g {BI COMD} #gold #stockmarket #macroeconomics @BBGIntelligence(Mike McGlone)