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Powell Backs Moving More Quickly / 50 bp increase likely in May
Most commodities markets don’t seem to like the news. While gold’s only down $10, the miners are off 4-5% for the day. Oil is up slightly. Overall, looks dismal in the commodity markets.
Funds that invested in commodity futures use TIPs as collateral which is affected by higher rates. Several 50 bps hikes are planned this year. So commodities will likely to give back some of their earlier gain.
This year there are few safe options as both equities and bonds are take the hit. Yet we are only in April.
@BaluBalu, first there were 5 nominations: Powell, Brainard, Cook, Jefferson, Raskin
But Raskin had to withdraw and the replacement now named is Barr.
So, it is 5 nominations again and they can move as a group.
Senate is too busy with lots of big stuff and this small Federal Reserve stuff can move only as a package of 5 - Senate doesn't have time to vote 5 times separately. So, it should be soon. (-:)
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This year there are few safe options as both equities and bonds are take the hit. Yet we are only in April.
Powell vicious
But Raskin had to withdraw and the replacement now named is Barr.
So, it is 5 nominations again and they can move as a group.
Senate is too busy with lots of big stuff and this small Federal Reserve stuff can move only as a package of 5 - Senate doesn't have time to vote 5 times separately. So, it should be soon. (-:)