While cautioning that the economy still needs the central bank’s support, Yellen stated that the nation’s economic recovery will be nearing completion within two years.
Treasuries rallied last week mostly on the back of the sell-off in equities as well as the Fed’s seeming backpedaling on the timing of rate hikes.
Silver prices spiked some 2%, or $0.51, to $20.49 an ounce intraday Thursday before closing the session up $0.37 to $20.14 an ounce.
If you like bull markets, you better hope Janet Yellen is one of the most talkative Fed Chairs in history.
the bigger story affecting gold prices was the FOMC’s decision to alter language on when the Fed would start to consider an increase in interest rates once U.S. employment reaches 6.5%.
The end of today’s Federal Open Market Committee (FOMC) meeting included fresh dovish language in its policy statement – but the market-friendly attitude failed to excite investors who were hoping for more.
As widely expected, the U.S. Federal Reserve announced it will stay the course on its bond tapering. Anticipated – but not as expected – the policy statement shed some light on eventual interest rate hikes.
The release of the December FOMC meeting minutes makes clear one thing: the U.S. Federal Reserve does not have a plan for the course of the stimulus reduction it announced last month.
At the Fed meeting today, the U.S. Federal Reserve announced that it will begin tapering its bond-buying program by $10 billion per month starting in January. The policy, which was designed to recharge economic growth, will be scaled back to $75 billion per month from $85 billion per month.
Fed-watchers are pretty sure they know what the word on a Fed taper will be when the official announcement comes following the Federal Open Market Committee (FOMC) meeting today and tomorrow (Wednesday)…
The Fed meeting today and tomorrow will focus on when to taper the $85 billion monthly bond purchasing program known as quantitative easing (QE).