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The Federal Reserve’s Dovish Pivot Has Moved Gold $50 Higher in 2 Days
A dovish pivot is the best way to describe yesterday’s Fed statement and Chairman Powell’s press conference from the last FOMC meeting of the year. Typically, when deciphering “Fed speak” investors look for nuances and word choices for insight into the internal thinking of Federal Reserve members’ comments. That was not needed in statements released by the Federal Reserve, as well as comments by Jerome Powell yesterday. Just two weeks ago, on December 1 Powell addressed an audience at Spelman College in Atlanta. His tone and statements were hawkish about future rate cuts and a pivot in the Fed’s monetary ... (full story)