The greenback’s value in gold plummets as central banks reportedly hold more of the monetary metal than they harbor U.S. Treasuries.
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We were glad to see our Larry Kudlow spring to with a column on Treasury Secretary Scott Bessent’s op-ed on the Federal Reserve. Mr. Bessent’s op-ed appears in the weekend Wall Street Journal. It argues that our central bank “put its own independence at risk by straying from its narrow statutory mandate.” Mr. Kudlow reckons it’s an apt point but finds it curious that Mr. Bessent “neglects to mention the dollar.” Our sentiments exactly.
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