“… Gold prices up more than 1% on the day above $2,000 as "...
Gold prices up more than 1% on the day above $2,000 as the Fed signals rate cuts are coming in 2024..."
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Recent indicators suggest that growth of economic activity has slowed from its strong pace in the third quarter. Job gains have moderated since earlier in the year but remain strong, and the unemployment rate has remained low. Inflation has eased over the past year but remains elevated," the central bank said in its monetary policy statement. Along with its more neutral outlook, the Federal Reserve also signaled that it expects to cut interest rates more than it anticipated in the summer.
The latest economic projections, also known as the "dot plot," indicate that the central bank sees the Federal Funds rate at 4.6% by the end of 2024, down from September's forecast of 5.1%...."
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