“If Fed treats , which were material events, with nonchalance, then it’s just a green light to bet heavily on every inflation trade.
“If they say, ‘We’re on the path, things are good,’ then I would just go all-in on the inflation trades.
“If they course-correct, if they say, ‘We’ve got incoming data, we’ve accomplished our mission, or we’re on the way very rapidly to accomplishing our mission on employment,’ then you’re going to get a taper tantrum,” Jones said.
If we ever get that again and if you ever got retail actually nervous about inflation, then the one thing that leads inflation, which is commodity prices, could double or triple with no problem,” he described.
“If I just look where the asset managers are, the 60/40 types, the one thing they should be invested in, they are not invested in.
“The only thing I know for certain, I want 5% in gold, 5% in bitcoin, 5% in cash, 5% in commodities.
The comments failed to move gold, which is seeing a selloff after failing to breach the $1,900 an ounce level last week.
On the other hand, Bitcoin did see substantial gains, with the cryptocurrency jumping nearly 8% on the day to trade above $39,000.