Futures Files
Jackson Hole talk moves financials higher Federal Reserve Chair Jerome Powell’s annual Wyoming speech sent metals, stock indexes, energy, and Treasury bond futures sharply higher on Friday. His talk was mainly “dovish” in tone. Toward the end, Powell implied the Fed would delay tapering or raising interest rates soon, partially due to the COVID delta variant’s dampening effect on our economic recovery. If the Fed holds off on raising rates, inflationary expectations tend to rise and pull commodities upward, especially precious metals. December gold traded at $1,819 per ounce ...