I had Bloomberg TV on this morning. Everything was progressing nicely, dollar dropping and gold climbing. And out of the clear blue sky, came some announcement from one of the federal open market wizards.
Dudley I think it was, comes out and says……”A rate hike in Sept is NOT off the table” and everything rotated in a NY minute. This is how they operate. Words. Joeseph Gerbals would envy the propaganda machine they have here.