The Fed held rates steady. But what's very important is that repo is going to be extended until April 2020. This is supportive for gold. Bond yields were falling and starting to invert again. This has implications, because this gives a higher probability of a rate cut coming in March. By the way, he also said: "Many people benefit from low interest rates." Do you want more evidence that a rate cut is coming?
He also said that excess reserves shouldn't go below $1.5 trillion, he wanted ample reserves above $1.5 trillion. He said that he didn't anticipate that the reserves would need to be higher than $1.5 trillion. This means he will expand the balance sheet even more.
He also said that excess reserves shouldn't go below $1.5 trillion, he wanted ample reserves above $1.5 trillion. He said that he didn't anticipate that the reserves would need to be higher than $1.5 trillion. This means he will expand the balance sheet even more.
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