“Participants observed that a restrictive policy stance would need to be maintained until the incoming data provided confidence that inflation was on a sustained downward path to 2%, which was likely to take some time,” according to the minutes of the Jan. 31-Feb. 1 gathering released in Washington on Wednesday.
Following the imposition of the price cap and related curbs, a backlog of tankers waiting to haul oil through Turkey’s vital shipping straits built up amid a dispute over insurance cover. That now appears to be clearing, with a port agent tally on Sunday showing 19 tankers waiting to pass through the Bosphorus and Dardanelles … Read more
“This will be a very challenging period for policymakers at all levels,” said Hugh Johnson, chairman of Hugh Johnson Economics LLC. While the Fed clearly desires to hold rates at the peak throughout the year, “These decisions are quite clearly data dependent and will be challenged if, as we suspect, the economy contracts and inflation … Read more
Bullion prices will reach $1,806.10 an ounce by year end, according to the average estimate in a survey of 10 participants at the Denver Gold Forum, the yearly meetup of mining executives, investors, bankers and analysts. The forecast is 7.8% above Monday’s spot closing price. The last time gold settled that high was at the … Read more
