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And the star of this week’s show (as in most weeks lately) is…Jerome Powell! Head of the US Federal Reserve.
This morning, he gave his speech at the annual Federal Reserve Jackson Hole, Wyoming meeting where central bankers from around the world meet. Powell said that the “time has come” for the FED policy shift toward interest rate cuts.
The markets reacted positively including equities, commodities, and fixed income with gold and silver recouping their declines from yesterday. Buy the dip……………..
Next week’s key economic reports are the second quarter GDP revision on Thursday and on Friday, the Personal Consumption Index (PCE) number which is what the FED looks at for inflation.
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