the FOMC minutes came out for June. The gold price bounced briefly before retreating. Clearly it scares all market participants if the word ‘tapering’ gets mentioned. The bottom line is that most Fed members were still in favor of continuing with QE because the job market continues to be weak.
When
Bernanke was interviewed about the effects of QE, he was asked why
interest rates were going higher? He responded by saying he ‘was
puzzled.’....
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