schiffgold.com / BY SCHIFFGOLD / SEPTEMBER 23, 2016
In light of the Fed rate hike news finally dropping this week, we can start looking ahead to the rest of the year. It’s a great time to be Fed Up with the election looming and global central banks making moves to preserve their economic health into next year.
Fed Holds Interest Rates “For the Time Being’”
In her press conference Wednesday afternoon, Janet Yellen said the Fed decided to keep rates at their current target but pushed that a hike before the end of the year was likely. The delay suggests Yellen and policy makers are continuing to keep up the illusion of economic health by maintaining an undercurrent of optimism despite the bad data continuing to come in.
“The case for an increase in the federal funds rate has strengthened,” she said, citing a need to “wait for further evidence of continued progress” in the economy. Despite the renewed optimism express by Yellen, most economists are still skeptical of a November hike, given that it’s just before the election.