FOMC news


Precious Metals Bug
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The Fed's Open Market Committee has been meeting since yesterday and releases their announcement/statement today on their interest rate decision and future guidance. The markets want a rate cut (or guidance that it is coming). Latest market data is showing that inflation is getting stronger, so the Fed isn't likely to cut. They probably want to raise rates, but that is now affecting fiscal spending as interest on the debt is ballooning. The Fed is in a difficult spot. I personally expect they likely do nothing and say they will await further data. If so, the markets likely won't be very happy. I expect some red this afternoon. YMMV!
FOMC did what I thought - held rates and said we wait for more data. Markets reacted differently than I thought. I guess JPow affirming that 3 cuts are on the table this year was sufficient to keep the market happy.