- Gold will reach $3k by October as markets 'melt up,' with the S&P expected to see at least 36 percent upside, according to David Hunter, Chief Macro Strategist at Contrarian Macro Advisors.
"That is when the disinflation trend began and interest rates peaked out," he observed."I think the highs of this bull market will not likely be seen again for decades."Fed policy and a stock market 'bust' "It is very possible that when we get to 6,000 or above [in the S&P], that Powell is going to be pushing for rate hikes," said Hunter."I'm very critical of both Dudley and Powell for this. I think the Fed is making a huge mistake in targeting the stock market."
"We are in uncharted territory," he said."The formula is, really, economic fragility caused by the pandemic, plus potentially the biggest policy error [over-tightening] in history by central banks, and plus leverage... You've got a formula which takes a normal recession into something far worse."
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