The Fed is stuck in between a hard place and a grenade, given this option, they will choose the hard place as unless you are looking for a one-way to ticket to nowhere you won’t choose the grenade. The Fed has nowhere to go; there is only one option available inflate the money supply or die trying to.
More talk of production cuts is giving support to crude oil despite near-record supply against a back drop of commodities going wild! China jumped into its stock market this morning to prop up stocks and it seemed to give oil a boost. Gold is back in vogue with banks going to negative interest rates and China making shorting stock a crime all is making gold look like a safer investment.