Powell still not ready for taper talk, US Dollar and Treasury yields sink, Gold rebounds, Bitcoin softens

The FOMC statement did not deliver any surprises. The Fed kept rates steady and maintained the USD120 billion bond-buying program. The Fed upgraded their economic assessment of the economy noting that amid progress on vaccinations and strong policy support, indicators of economic activity and employment have strengthened. The first question asked to Powell was if it was time to start talking about, talking about tapering? Powell reaffirmed that it is not time yet to have a conversation about tapering, sending Treasury yields sharply lower. The S&P 500 index rallied to record high territory as Wall Street is … (full story)

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