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Clarida Says Fed Will ‘Act as Appropriate’ to Sustain Expansion
July 1, 2019, 3:32 AM EDT Updated on July 1, 2019, 4:11 AM EDT
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Vice chairman says the U.S. economy is in a ‘good place’
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Investors expect Fed to cut interest rates at July meeting
Federal Reserve Vice Chairman Richard Clarida said many U.S. central bankers see a stronger case for easier monetary policy relative to the outlook just two months ago.
“We will certainly act as appropriate to put in place policies that sustain the economic expansion, and the strong labor market and price stability,” Clarida said at a Bank of Finland conference in Helsinki on Monday. He cited mounting uncertainty for global trade and growth, and investment plans by U.S. businesses.
U.S. central bankers left the benchmark lending rate unchanged at their June 18-19 meeting, while pivoting toward a rate cut. The central bank said in its statement that “uncertainties’’ about the outlook have increased and that it will “closely monitor’’ incoming information.
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MADDOG=there may be one crucial change that traders who. are long. this current rally with profits should consider. That is: are the commercials., the big bullion banks and the PPT back in. charge of gold–they haven’t been for 2 or 3 weeks….never mind sbout. the high RSIs or that the $ is up .400 today…or that the 10 yt note is down 30/64ths….none of that. has mattered…traders must consider that the entire rally still could be reversed…gold may have lost its immunity or “bullet-proofness”…nothing is certain…the rally still could be on—this could be just the ‘Healthy pullback”…but we know that gold is a special case and that the spectacular “technical breakout” could all be reversed…
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News only. affects gold negatively–stocks go up because all news is bullish for stocks–stocks are telling up that with or without a trade deal OR RATE CUT they will rally
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the only positive or “diagnostic clue”. in golds favor is that silver is only down 5 cent…
JNUG is down a hefty 7.7%—silver miners WPM and AG are down 3.5% each despite silver barely down—could be worse by 9:30…