The Federal Reserve Is Losing Control

The Federal Reserve, recently so optimistic about the US economy, is hinting at changing its tune.
A few days ago they hinted at openness toward interest rate cuts, as the bond market (2 year note particularly) plunged.  The gold market this week has taken its cue from the rising tensions globally and falling bond yields.   Now, as the chart below suggests, the gold market may soon break out as the Fed's management of the economy sours.
A clean break above $1360 suggests a move of $170 higher to the $1500 plus range.  The timeline remains undefined for now, but breakout does appear imminent unless the Fed and banks can coordinate a managed decline in the paper bullion market.
We watch and wait.