Bloomberg/Steve Matthews/6-25-2019
“‘This is really important,’ said Torsten Slok, chief economist at Deutsche Bank Securities, who expects a rate cut in July. ‘For many years, the Fed has been arguing that monetary policy was easy and accommodative and supporting growth and inflation. After a decade of easy monetary policy, the Fed has decided that policy is no longer stimulative.’”
USAGOLD note: Fed chairman Powell adds fuel to the fire underlying gold’s rise over the past three weeks in a question and answer session at the Council on Foreign Relations.
