Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!
With no real monetary policy guidance, market expectations are stuck at a 50/50 chance that the U.S. central bank will raise interest rates by 50 or 75 basis points next month. This uncertainty means that gold prices are probably stuck at $1,750 an ounce. Ahead of Powell's comments, the U.S. Department of Commerce said its core Personal Consumption Expenditures Index increased 4.6% in July, down from June's annual increase of 4.8%.
With economic conditions so fluid, we will have to pay attention to the data, which is not painting a very rosy picture. Tighter financial conditions, caused by rising Fed Funds rates, are starting to take effect.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »