by Clint Siegner
Federal Reserve officials hinted at a rate hike as soon as next month, but that prospect did little to support the U.S. dollar or hinder precious metals. Gold and silver prices have surged to new highs for the year while the dollar made a new low.
Perhaps markets have already priced in another modest rate hike. Or maybe the markets simply aren’t taking the hint! Fed officials’ constant posturing and innuendo have long been contradictory and unreliable – and the Fed’s economic forecasts have usually been wrong.