Fed Increases Rates 0.25% - Rising Interest Rates Positive For Gold
The Federal Reserve increased interest rates by 0.25% as expected yesterday leading to gold falling to lows last seen in February 2016 and the dollar rising to its highest level against the euro in 14 years.
The key economic releases this week are ISM non-manufacturing on Monday and University of Michigan consumer sentiment index on Friday. There are a few scheduled speaking engagements from Fed officials this week.
Away from the US economic calendar, initially focus will be on the Italian referendum result, which already appears to have been largely digested by the market, despite a variety of unknown consequences still to emerge. It will then shift quickly to a critical ECB meeting.
The Cherokee Nation is suing the United States claiming that the federal government had mismanaged the tribe’s trust fund for decades. Seven other agencies are also named in a lawsuit that alleges mismanagement and a lack of transparency over the tribe’s trust fund. The suit claims the government’s lack of accountability has hindered the tribe’s progress and development. RT reports: The Cherokee Nation commemorated the 231st anniversary of the first treaty it signed with the US government by announcing a lawsuit on Monday.
Submitted by Kelli Sladick via Tenth Amendment Center,
During the last eight years, the Obama administration failed to live up to its promise reverse the Bush era’s mass surveillance of American citizens. In fact, it was expanded and justified. If you were silent, the sweeping power controlled by the president may not be on your radar for the right reasons. While there is a deep fear resonating, at least half looked the other way when “their guy” held the powers of the presidency.
In these volatile times, gold is more important than ever. Bonner & Partners' Bill Bonner explains in this two-part series (Part 1 here), the importance of 'real money' and why you need it now...
Why You Will Need Gold
What troubles my sleep is what is not in the textbooks.