Just flip a coin you might have a better chance predicting what will be the outcome at the next FED meeting. Minutes from the last FED meeting just released reveals:
- FED open market participants split down the middle on whether a rate hike is needed soon.
- Some voting members saw rate hike warranted soon.
- Some officials wanted to wait for more data before agreeing to a rate hike.
- Members saw low inflation risk from strong job gains.
Initially on this news, we viewed a knee jerk reaction in the price of gold. Probably algorithm programs lighting up the board, down $ 15 dollars in an instant. Once all the news was absorbed by the market we are right back to where we were just before the report.
This debate reminds me of the comic short film with Abbot and Costello: WHO’S ON FIRST?
Enjoy the rest of your day.
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