Don’t overreact to Fed minutes.
by Mike Swanson
Yesterday the stock market and gold prices fell into their closing bells after the release of minutes of the Federal Reserve’s April meeting.
The Federal Reserve did not raise interest rates at that meeting, but the minutes showed that some Federal Reserve Board members hope to raise interest rates in June.
Back in December the Federal Reserve raised interest rates and predicted that it would raise rates four times in 2016.
Then the stock market dumped in January and banks in Europe showed signs of stress so the Federal Reserve got scared and was unable to raise rates at any of its meetings so far this year.