Click here to get this article in PDF
The U.S. is presently not in an economic downturn, according to Federal Reserve Chair Jerome Powell. Which implies one more "unusually huge" price walk might be in store in September, adhered to by a downturn in tightening up.
Powell offered a press conference after the U.S. reserve bank elevated prices by 75 basis points for the second time in a row.
" I don't believe the U.S. is currently in an economic downturn. There are too many locations of the economic climate that are carrying out also well. I would certainly point to the very strong labor market. [It is] real that development is slowing … [Yet typically], GDP numbers [are] revised quite considerably. You often tend to take first GDP records with a grain of salt," Powell claimed, referencing Thursday's initial reading of the Q2 GDP report.
__________________________________________________________________
Kitco News is the world's # 1 source of metals market info. Our videos feature meetings with famous industry numbers to bring you market-affecting insights, with the objective of helping individuals make notified financial investment decisions.
Sign up for our network to keep up to date on the most up to date understandings moving the steels markets.
For more breaking information, visit
Follow us on social media sites:
Facebook –
Twitter –
StockTwits –
Live gold price and graphes:
Live silver price and graphes:
Don't forget to register for Kitco News' Weekly Summary– appears every Friday to wrap up the hottest tales & video clips of the week:
Sign up with the conversation @ The Kitco Forums and also belong to the premier online neighborhood for precious metals financiers:
Please note: Video clips are not trading recommendations and the views expressed might not reflect those of Kitco Metals Inc
.
Fed’s Powell: U.S. not in recession, expect another 'unusually large' hike in Sept before slowdown
The U.S. is currently not in a recession, according to Federal Reserve Chair Jerome Powell. And that means another "unusually large" rate hike could be in store in September, followed by a slowdown in tightening.
Powell gave a press conference after the U.S. central bank raised rates by 75 basis points for the second time in a row.
"I don't think the U.S. is currently in a recession. There are too many areas of the economy that are performing too well. I would point to the very strong labor market. [It is] true that growth is slowing … [But generally], GDP numbers [are] revised pretty significantly. You tend to take first GDP reports with a grain of salt," Powell said, referencing Thursday's first reading of the Q2 GDP report.
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
Subscribe to our channel to stay up to date on the latest insights moving the metals markets.
For more breaking news, visit http://www.kitco.com/
Follow us on social media:
Facebook - https://www.facebook.com/KitcoNews/?ref=br_rs
Twitter - https://twitter.com/kitconewsnow
StockTwits - https://stocktwits.com/kitconews
Live gold price and charts: http://www.kitco.com/gold-price-today-usa/
Live silver price and charts: http://www.kitco.com/silver-price-today-usa/
Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: https://connect.kitco.com/subscription/newsletter.html
Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: https://gold-forum.kitco.com/
Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.
