Fed FOMC Meeting a Dud Compared to DNC

Published On: Wed, Jul 27th, 2016

Fed FOMC Meeting a Dud Compared to DNC – Peter Schiff

To the surprise of no one, the Federal Reserve’s FOMC didn’t raise rates today. They dished-out the usual pablum about a strengthening job market.

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Gold was up about six bucks before the FOMC statement release, and declined in response to the hawkish Fed tone. But gold turned around, shooting higher later in the day. Schiff believes the markets are seeing through the Fed’s bluff to raise interest rates.