Expect 4% inflation by 2023 as the Fed hikes rates; These assets are recession-proof - Peter Berezin

Expect 4% inflation by 2023 as the Fed hikes rates; These assets are recession-proof - Peter Berezin kitconews gold silver economics mining metals finance investing

- The Federal Reserve hiked its key interest rate by 75 bps on Wednesday, and Chairman Jerome Powell did not rule out even more aggressive rate hikes in the future. Powell also said that the U.S. economy is not currently in a recession, mainly due to strong employment figures.

"A recession in the U.S. is anything the National Bureau of Economic Research deems it to be," Berezin said."The reality right now is that some measures of economic activity are pointing to a recession, while others are not. In particular, the labor market, which often weakens during a recession, has not yet begun to weaken."

Berezin said that the Fed will try to get inflation down, but that it would require a reduction in economic growth.

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