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Bloomberg/Alister Bull/6-6-2020
“Fed officials — who have already unleashed a torrent of liquidity to ease financial market strains — are not expected to augment their guidance for interest rates to stay near zero until the economy is back on track, despite a better-than-expected reading for the jobs market in May. But Powell’s press conference on Wednesday will be closely watched for hints on how much more, if any, further stimulus he thinks will be needed.”
USAGOLD note: Powell by word and deed has already given every assurance that he will do whatever he can to keep the economy from sinking into the abyss. Usually, gold takes a breather during Fed Week restrained by the uncertainties it brings. Few, though, expect anything near a market jolt – positive or negative – this coming week. Now is a time for calming the waters.