Following its much-anticipated two-day meeting, the Federal Reserve announced today that it will begin a moderate taper of its bond-buying program beginning in January. Rather than a monthly bond purchase of $85 billion, the Fed will now purchase $75 billion in bonds monthly. Further, the Fed announced in a press release it would keep short-term…
Growth Continues With November Job Report
The economy has seen a jolt for the second straight month as employers added 203,000 jobs in November. Unemployment dropped .3 percent to 7 percent, which is the lowest its been since 2008. Economists predicted November to add 180,000 jobs and for the labor market to fall just .1 percent, so statistics were better than…
Gold Tests Upper Resistance, Slips
After gold hit a low under $1200 in late June, the metal seemed to be in recovery mode for the rest of the summer. Through August, September and October, gold trended upward and tested important resistance levels of $1350 – $1360. At the end of October, gold once again broke above $1350. The rally off…
June FOMC Minutes: Tapering Still Dependent on Job Gains, Economic Outlook
Just three weeks ago stocks and commodities were sent spiraling downward after the Federal Open Market Committee (FOMC) released their economic forecast and U.S. Fed Chairman Ben Bernanke spoke about the tapering of assets becoming a reality by the end of the year. Fast forward to the release of the Fed’s June meeting minutes today…
