![How does the Fed undo its latest mistake? Azoria's James Fishback on Powell's moves and the election teaser image](https://images.kitco.com/img/height_868,width_1543/icms/1b0536b0-47d9-481f-b990-3ab0f35b3361.jpeg)
How does the Fed undo its latest mistake? Azoria's James Fishback on Powell's moves and the election
The Federal Reserve got ahead of itself earlier this year thinking it had inflation whipped, said James Fishback, co-founder and chief investment officer at Azoria. Fishback spoke to Kitco on Tuesday.Back in December, the market was expecting more rate cuts than it will get this year. Fishback said the Fed and Chair Jerome Powell erred when it had its "mission accomplished December Fed meeting" and the markets priced in several rate cuts in 2024. Hotter-than-expected inflation data squashed lowering interest rates.
![Weak market for critical minerals seen dampening Western efforts to counter China teaser image](https://images.kitco.com/img/height_434,width_774/icms/0e4a97fb-ad01-42a7-916f-af9d4137736c.jpeg)
Weak market for critical minerals seen dampening Western efforts to counter China
Low prices for critical minerals for the green energy transition, such as lithium, cobalt and rare earths, are curbing efforts by the West to fight the dominance of China in the sector, the CEO of US government-backed investment vehicle TechMet said.Oversupply and weak prices are dampening cashflows of Western start-ups, making it more difficult to compete with a Chinese government investment strategy that takes a long-term view, TechMet CEO Brian Menell said in an interview.
![Iron ore price heads for weekly fall on profit-taking ahead of key China meeting teaser image](https://images.kitco.com/img/height_434,width_774/icms/f233786e-7227-4aa9-8cfa-097401219f8a.jpeg)
Iron ore price heads for weekly fall on profit-taking ahead of key China meeting
Iron ore futures are set for a weekly fall amid a flurry of profit-taking, ahead of top consumer China’s third plenum, although growing expectations of US rate cuts pushed up prices on Friday.The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) traded 0.36% higher at 827.5 yuan ($113.95) a metric ton, as of 0216 GMT. It is down 3% so far this week.The benchmark August iron ore on the Singapore Exchange was 0.65% higher at $107.95 a ton, a drop of more than 2% from the closing price last Friday.
![Mexican miners reject ‘favorable’ deal with Acerlormittal, govt says teaser image](/fallbacks/ktc_img_fallback_lg.jpg)
Mexican miners reject ‘favorable’ deal with Acerlormittal, govt says
A deal between steel producer ArcelorMittal and Mexico’s miners union was rejected by workers on Wednesday, Mexico’s labor ministry said a statement, saying the deal had been “favorable.”The deal would have put an end to a work stoppage at ArcelorMittal’s western Mexico site that started at the end of May.(By Kylie Madry and Brendan O’Boyle; Editing by Sarah Morland and Chris Reese)