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« 30 Reasons The Bear Phase In Gold Ends This Summer | Main | Weekly Wrap Up with Chris Powell: What's Next for the Gold Fix? »
Wednesday
Jun182014

Fed Keeps Rates Unchanged, Sees Eventual Rise in 2015, 2016

Bond Purchases Are Reduced Again As Central Bankers See Signs of an Economy on the Mend


Federal Reserve officials fine-tuned their interest-rate projections on Wednesday and announced further reductions in their monthly bond purchases, leaving the program on course to end later this year.

With the bond-buying program winding down, officials are increasingly turning their attention to the question of when to start raising short-term interest rates from near zero. Officials indicated they expected short-term rates to remain there through the year. New interest-rate projections released by the central bank suggest officials see rates rising slightly more than previously forecast in 2015 and 2016, though not as much in the longer run.

The Fed's benchmark federal funds rate has been slightly above zero since December 2008.

Please click here to read this post in full plus a short video of Janet Yellens presentation.


 

The miners have started 2014 very well indeed on the back of rising gold prices, so the question is; is this the real deal or another head fake? Is the bottom really in? Could there be a final capitulation just ahead of us? Will the summer doldrums take the PMs lower?

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