Hedge fund tycoon warns: If the Federal Reserve becomes a "puppet," the US will face an epic punishment

Odaily Planet Daily reports that David Picton, head of Picton Investments, stated that if U.S. President Trump appoints a Federal Reserve Chair perceived as overly obedient, the bond market will quickly punish the United States, and precious metals remain a good hedge against political volatility. He also mentioned that “there is some correlation between the number of posts Trump makes and the performance of currency devaluation trades (i.e., gold, silver, and these commodity-based hedging tools).” Picton’s company manages approximately CAD 16.6 billion (about USD 11.9 billion) in assets. He said he does not believe the Federal Reserve will ultimately lose its independence, but Trump’s repeated verbal attacks on Powell are “extremely unhelpful.” (Jin10)