In this week’s episode of The Economic Effect, former Chief Economist John Silvia examines what the gold rally reveals about inflation expectations, the U.S. dollar, and investor confidence in economic policy. From the Fed’s easing stance to rising commodity prices and an overstretched equity market, John breaks down how “restrictive” policy may be anything but. Get clear insights on where inflation, interest rates, and the dollar are headed — and why the lessons from 1979 may matter more than ever. 📩 Stay ahead of policy shifts and market trends — subscribe to John’s weekly newsletter at johnesilvia.com.