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Federal Reserve Chairman Jerome Powell indicated the Fed would keep interest rates steady at its next meeting but left the door open to hikes in following months if needed to curb inflation.
A much-anticipated speech by Federal Reserve Chairman Jerome Powell was delayed after a group of climate protesters stormed the stage.
The conflict in Gaza continues to attract flows into gold, until there is some type of ceasefire or de-escalation of the conflict, gold is going to hover above the $1,900 range, said Everett Millman, chief market analyst at Gainesville Coins.
Yield on the 10-year Treasury note edged higher on Monday at 4.6371%, touching 16-year highs again, while the yield on the 2-year note, which best reflects interest rate expectations, remained above 5%. "The Fed has said that their target is still 2% and they are still long ways away from getting inflation really going in the direction that they want," said Russell Hackmann, President of Hackmann Wealth Partners.
August 25, 2023- Federal Reserve Chair Jerome H. Powell gave a speech at "Structural Shifts in the Global Economy," at the economic policy held in Jackson Hole, Wyoming. ...