In the News:
Wall Street Journal

The Wall Street Journal publishes portfolio manager Axel Merk's anticipated reaction to the Federal Reserve Bank interest rate decision. The Journal writes in the MarketBeat column:

"Axel Merk, manager of the Merk Hard Currency Fund, has a more cynical view of the situation. 'The Fed won't move, but will warn that it will remain vigilant as inflationary pressures persist. In other words: We know inflation is out there, but we currently don't do anything out there because we are scared of exacerbating a significant slowdown that's already in progress. But, dear market, please focus on our vigilance,' he says. 'And, surprise, surprise, market commentators will point out how vigilant the Fed intends to be.' "