Fed Inflation Optimism Defied by Lower Consumer Outlook

``Americans lowered their outlook for increases in consumer prices, a survey showed today, posing a challenge for Federal Reserve officials seeking assurances that inflation expectations are stable.'' -- And gold and silver soared today. Clearly this means that the Fed won't be able to exit its easy money policies, and hence, "risk-off trades" (which now includes gold and silver?) soar... or maybe we should just give up trying to find any sense behind the near-term market movies...