'We're F'd,' Says 'Rich Dad Poor Dad' Author Robert Kiyosaki Because Fed Chair Powell 'Finally Admitted Inflation Is Winning'
Portfolio Pulse from Shanthi Rexaline
'Rich Dad Poor Dad' author Robert Kiyosaki criticizes Fed Chair Powell for admitting inflation is winning, changing his stance on rate cuts. Kiyosaki warns of financial trouble, advising investment in gold, silver, and Bitcoin. SPDR Gold Shares (GLD) and SPDR S&P 500 ETF Trust (SPY) are mentioned with their performance.
April 04, 2024 | 9:31 am
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POSITIVE IMPACT
SPDR Gold Shares (GLD) has rallied over 11% this year, benefiting from gold's status as a safe haven asset amid inflation concerns.
Given the inflation concerns highlighted by Kiyosaki and Powell's admission, gold, and consequently GLD, is seen as a safe haven, driving its performance up.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
SPDR S&P 500 ETF Trust (SPY) rose 0.39% as per Benzinga Pro data, reflecting investor sentiment and market response to economic indicators.
SPY's performance is indicative of the broader market's reaction to economic indicators and Powell's comments, showing resilience despite inflation concerns.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70