from King World News
The flight to safety is on as banks get crushed and gold surges.
A portion of today’s note from Art Cashin: Other Fed Credibility Dings – They did not set up a July press conference thus raising enormous doubts that any kind of move is possible in July.
The vote to stand pat was unanimous. Where all those regional Fed presidents, who a week or two ago, were hanging on a June move and even follow-ups. There was a dissent in April but not one in June?
Futures are a hair away from declaring no hike this year. Credibility?