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Rickards: All Eyes On An Irrelevant Fed
The Fed dominates the headlines. An upcoming meeting of the Federal Open Market Committee (FOMC, the Fed’s interest rate policy group) on September 16-17 is already receiving outsized attention because of the likelihood that the Fed will cut interest rates for the first time since December 2004. Trump’s efforts to mold the Fed board of governors to his liking with appointments and firings is another focal point for market attention. It is true that the Fed is the central bank of the United States and that it has the power to print (really, digitally create) the U.S. dollar, the currency in which 60% of global ... (full story)
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