Good Morning,
The Fed has 2 essential responsibilities: to maximize employment and promote price stability. According to Yellen’s words on Wednesday, as long as employment and inflation don’t meet the Fed’s objectives, the longer it will take to see interest rates rise. The decision to raise rates is not based on any single indication, but is based on a wide range of data pertaining to the labor market, inflation, and financial developments. Yellen didn’t make any references to the “considerable” time period, but did mention that there is more slack in the job market than seen by simply looking at the unemployment rate. After a long weekend, the precious metals complex is trading in the negative territory across the board this morning. Tomorrow the AMCU and the Platinum producers will meet to discuss revised wages in hopes to end the 13 week strike. Platinum and Palladium prices are under pressure this morning (read more)
