To the extent that it dampens the public's expectation of higher prices - itself an inflationaryfactor - and generates measures to alleviate shortages and bring costs down, a well-publicized anti-inflation drive can work.
In all, the factors weighing on the economy are the same factors which are likely to hold down any inflationary pressure in the U.S. One factor that I have not mentioned, but will briefly, is the possibility of inflationary pressures on the U.S. debt.
This overall world currency devaluation situation could be an underlying bullish factor for the precious metals down the road, due to the inflationary implications.
Another potentially longer-term bullish fundamental for the precious metals markets and a factor for which the market place has appeared to ignore or temporarily forget about is the specter of inflationary price pressures developing worldwide.