Federal Reserve Chairman Jerome Powell said, “The time has come for policy to adjust” in a speech on Friday August 23, 2024, indicating that the central bank will start cutting interest rates at their next meeting in September.
“The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.”
—Federal Reserve Chairman Jerome Powell at the Jackson Hole Economic Symposium
How big could a September rate cut be, and what effects will it have on the economy and American consumers?
Click on the video link below for exclusive executive insights on this topic from Edmund C. Moy, 38th Director of the U.S. Mint and Senior IRA Strategist for U.S. Money Reserve.
Related headlines from around the web:
- CNN Business: “Powell just suggested interest rate cuts are coming. What everyone wants to know now”
- Bloomberg: “Gold Holds Above $2,500 as Powell Signals Rate Cuts Are Coming”
- The Financial Times: “Gold hits record highs as investors bet on rate cuts”
Enhance your portfolio with precious metals today.
Widespread market forces like central bank demand, geopolitical tensions, and monetary policy may continue to drive gold prices higher. Gold has also historically been used as a hedge against economic uncertainty and market turbulence. Now may be the perfect time to add wealth protection to your portfolio in the form of physical gold.
Watch U.S. Money Reserve’s “Market Insider” each week for more economic insights. Nothing herein should be considered as portfolio or retirement advice as U.S. Money Reserve (“USMR”) cannot and does not offer financial advice. Clients should consult a financial advisor for specific advice. This commentary is provided by USMR for informational purposes only and is provided on an “as is” basis without any warranty of any kind, whether express or implied. Your use of the information provided in this commentary is entirely at your own risk. In no event will USMR be held liable for any indirect, special, incidental, or consequential damages arising from the use of information contained in this commentary.
