GOLD FIRM BEFORE INFLATION, FED JAWBONING

Inflation Analysts surveyed by Bloomberg say core inflation probably rose 0.2 percent in July. Should they be proven correct when the figures are published at 8:30 a.m. this morning, it would end a four-month string of below-forecast readings. Yesterday, Federal Reserve Bank of New York President William Dudley cautioned that “it’s going to take some time” for headline inflation to return to the central bank’s 2 percent target. The lack of pickup in inflation, despite low unemployment, remains ...
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The Federal Reserve prepares to raise interest rates again

For the first time in years, the central bank’s forecasts for monetary policy look believable WASHINGTON, DC AMERICA’S central bank tries to be predictable. When in December 2015 it raised interest rates for the first time since 2006, nobody was much surprised. The central bank had telegraphed its intentions to a tee. Similarly, if the overwhelming consensus in financial markets is to be believed, on December 14th—almost exactly a year later—rates will rise again, to a target range of 0....
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