Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason.
As a new administration took power in Washington this week, investors weighed new opportunities as well as new risks.
The Biden administration promises to undo much of the policy agenda President Donald Trump had implemented. However, those expecting a new era in American politics are likely to be disappointed – or relieved, depending on their perspective.
Joe Biden is anything but new or transformational. He seems to view his mandate as that of reassembling the Obama-Biden administration for a third term.
Obama’s Federal Reserve Chair Janet Yellen is among the familiar faces Biden has picked to populate his cabinet. Yellen will take the helm as Treasury Secretary.
1/22/2021 5:20:21 PM GMT
The recent explosion of money printing and debt-funded spending by the U.S. in response to the Covid-19 pandemic has sparked a renewed interest in the key role gold and silver play in hedging against systemic risks.
That’s why a group of Idaho legislators are working to secure a role for the monetary metals in hedging the Gem State’s government reserves.
Introduced by Representative Ron Nate (R-Rexburg) and Senator Steve Vick (R-Dalton Gardens), House Bill 7 would permit – but not require – the State Treasurer to hold some portion of state funds in physical gold and silver to help secure state assets against the risks of inflation and financial turmoil and/or to achieve capital gains as measured in Federal Reserve Notes.
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