Remember when the Fed chair brushed off stagflation fears back in May 2024? "I don't see the stag or the flation," he said. Fast forward a year and a half: inflation's still hovering above 3%, and the job market's showing its weakest pulse since COVID hit. That wasn't just a bad call—it marked the moment monetary policy lost its grip. The takeaway? Hard assets aren't optional anymore. They're the play.