π Debasement trade back in swing π
The 'debasement trade,' which started with a dovish signal from Chair Powell on August 22, 2025, is resurfacing. This trend is happening again as markets reacted to a dovish surprise from the Fed at its July 29 meeting. Gold and other precious metals prices are now starting to climb once more. Vice Chair Michelle Bowman stated the Fed's policy is set to return inflation to the 2% target. The next big event to watch is the keynote at Jackson Hole on August 28.