Last week, gold prices consolidated between the 50-day and 200-day moving averages. The metal closed the week at $1,850.20 per ounce. JPMorgan Chase CEO Jamie Dimon is warning of an impending financial crisis ahead for the U.S. economy. Fox Business reports, “Dimon—who said at the beginning of May there were storm clouds forming on the economic horizon—ratcheted up his warning on Wednesday, citing fresh challenges facing the Fed as it seeks to tame the hottest inflation in a generation. “‘I said there were storm clouds. But I’m going to change it. It’s a hurricane,’ he said during a conference hosted by AllianceBernstein Holdings. ‘Right now, it’s kind of sunny, things are doing fine, everyone thinks the Fed can handle it. That hurricane is right out there down the road coming our way. We don’t know if it’s a minor one or Superstorm Sandy. You better brace yourself.’” Dimon’s comments follow Wells Fargo’s CEO warning that “the Federal Reserve would find it ‘extremely difficult’ to manage a soft landing of the economy as the central bank seeks to douse the inflation fire with interest rate hikes,” reports Reuters . The problem for the Federal Reserve is that in choosing measures to combat inflation and still trying to avoid a recession, it is not doing enough to avoid either. The interest rate hikes are too small to defeat inflation but just enough to push a weak economy into recession. Gold’s “safe haven” features may make it a bulwark against this coming economic storm for investors. Rick Andrews is president of Avant Capital Management.