Fed Says No To Interest Rate Hike

Flash Gage - News Headlines that Impact precious metals as they happen.

The Federal Reserve committee announced today that there will be no change in interest rates.

We await the Chairwoman’s comments at 2:30 EST today, to hear if she will exhibit a dovish tone or a hawkish tone regarding futures rate changes.

Fed minutes chatter is the same as previous meetings, all decisions will be data dependent. Based on recent economic data they have no case to change rates.

The chairwomen’s comments can have just as much impact on the price of gold and all markets as a rate change, as she shares her thoughts and the thoughts of the FOMC in a few minutes.

The next FED meeting is scheduled for November 2, 2016.

Current odds of a rate hike in November after today’s announcement is set at 26 percent.

All this does is making December the true date for a rate change, if the data is compelling.

Enjoy the reminder of your day.

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