FOMC press conference.
The dot plot has been revised sharply lower.
Powell said: "We're not even thinking about thinking about raising rates".
He continued: "We want to see inflation." He also mentioned "yield curve control". This will keep bond yields low and will probably be very negative for the USD. This will be very good for precious metals and stocks.
Lower interest rates are necessary to be able to finance their rising budget deficits, which ballooned to $400 billion in May.
The dot plot has been revised sharply lower.
Powell said: "We're not even thinking about thinking about raising rates".
He continued: "We want to see inflation." He also mentioned "yield curve control". This will keep bond yields low and will probably be very negative for the USD. This will be very good for precious metals and stocks.
Lower interest rates are necessary to be able to finance their rising budget deficits, which ballooned to $400 billion in May.
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