DISCLAIMER: GOLDINVESTMENTCOMPANIES.COM IS AN AFFILIATED PARTNER FOR GOLDCO PRECIOUS METALS, AUGUSTA PRECIOUS METALS, AND BIRCH GOLD GROUP, PROMOTING THEIR GOLD IRA, GOLD 401K TRANSFER AND BITCOIN IRA SERVICES AND PRODUCTS.
As the Federal Reserve transitions to smaller individual rate hikes, the U.S. central bank Chair Jerome Powell said it is more important to pay attention to the peak rate and how long the Fed chooses to remain restrictive.
And the median forecast for next year shows that rates could go up to 5.1%, with Powell saying that they will stay there “for some time.”
“Now that we’re coming to the end of this year, we’ve raised 425 basis points this year, and we’re into restrictive territory. It’s now not so important how fast we go. It’s far more important to think what is the ultimate level. And then, at a certain point, the question will become, how long do we remain restrictive? That will become the most important question,” Powell said.
Powell spoke to reporters after the Fed raised rates by 50 bps, which is smaller than the previous 75 bps increases.
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
Subscribe to our channel to stay up to date on the latest insights moving the metals markets.
For more breaking news, visit http://www.kitco.com/
Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: https://connect.kitco.com/subscription/newsletter.html
Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: https://gold-forum.kitco.com/
Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.