FLASH GAGE – Fed To Raise Rates by 25 basis points June 14, 2017 As anticipated, the Fed raised rates today by 25 basis points. There was only one vote to stay put cast by Minneapolis Fed President Neel Kashkari who at the last meeting called for a reduction in the Fed’s balance sheet before the next rate hike. At this meeting, the FED did announce they will start to shrink their balance sheet later this year. Gold initially traded higher on the news as the dollar weakened, but it only took a minute or two before the dollar gained some ground and gold gave back at least two thirds of the gains that it enjoyed earlier in the day. The Fed did indicate they plan for another rate hike later in the year, but many question that with Washington in disarray and the clock running out before the House’s next recess, a tax reform plan to stimulate the economy is a longshot at this point. As I submit this comment the Chairwomen is sharing her prepared comment which we will share with you in the next release of the Market Gage. Enjoy the rest of your day. Disclaimer: This editorial has been prepared by Walter Pehowich of Dillon Gage Metals. This document is for information and thought-provoking purposes only and does not purport to predict or forecast actual results. It is not, and should not be regarded as investment advice or as a recommendation regarding any particular security, commodity or course of action. Opinions expressed herein are current opinions as of the date appearing in this editorial only and are subject to change without notice and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, results are likely to vary substantially. All investments entail risks. There is no guarantee that investment strategies will achieve the desired results under all market conditions and each investor should evaluate its ability to invest for a long term especially during periods of a market downturn. No part of this editorial may be reproduced in any manner, in whole or in part, without the prior written permission of Dillon Gage Metals. This information is provided with the understanding that with respect to the opinions provided herein, that you will make your own independent decision with respect to any course of action in connection herewith and as to whether such course of action is appropriate or proper based on your own judgment, and that you are capable of understanding and assessing the merits of a course of action. You may not rely on the statements contained herein. Dillon Gage Metals shall not have any liability for any damages of any kind whatsoever relating to this editorial. You should consult your advisers with respect to these areas. By posting this editorial, you acknowledge, understand and accept this disclaimer.