Gold Plunges After Warsh Signals Fed Still Has Work to Do on Inflation
8 Articles
8 Articles
Gold Plunges After Warsh Signals Fed Still Has Work to Do on Inflation
Gold steadied near record territory early Friday. Traders braced for clues from the new Federal Reserve chairman. Then Kevin Warsh spoke at Jackson Hole. The metal dropped fast. Spot prices swung from above $4,626 an ounce just before the address to as low as $4,554 minutes after. They fixed around $4,560 in London. That erased the week’s modest gain and trimmed August’s blistering rally. BullionVault captured the violence of the move. A $70 sli…
Federal Reserve Chairman Kevin Warsh reaffirmed his intention to take decisive action against inflation in his speech in Jackson Hole, to which markets responded immediately and sharply. Two-year U.S. Treasury yields jumped 12 basis points, and traders are already pricing in a majority chance of a September rate hike, Bloomberg reported.
Warsh Vows to Deliver Price Stability in Jackson Hole
Federal Reserve Chair Kevin Warsh acknowledged that inflation was elevated and widespread, and said he would be "hard pressed" to describe financial conditions as "restrictive." #wyoming #news #usa #politics #trump Warsh stated that the Fed must be confident that underlying inflation is moving to…
Gold fell sharply after Federal Reserve Chairman Kevin Warsh delivered more hawkish messages than expected on fighting inflation at the Jackson Hole meeting. An ounce of gold dropped $150.70 on Friday, falling to $4,504.10. This ended its three-week winning streak, giving back all of its weekly gains. Warsh's remarks, which revived the possibility of an interest rate hike, put pressure on the precious metal, along with a rise in the dollar and b…
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