Gold Up on Fed Rate Hike

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

Gold rallies eight dollars the Federal Reserve’s announcement of a 25 basis rate hike.

The Federal Reserve expected inflation numbers in 2018 up from 1.6 percent to 1.7 percent, still well below their target rate of 2 percent.

Economists question the Fed predicting 3 rate hikes in 2018 with inflation so low.

Getting back to normal on interest rates, regardless of where inflation is, seems to be thinking by Fed members at this moment.

FOMC members raised their GDP estimate from 2.1 percent in September to 2.5 percent.

The Fed also expects job growth to remain strong.

The market now awaits the Chairwoman’s comments to the press at 2:30 Est.

Enjoy the rest of your day.

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