by Craig Hemke
Sprott Money
Wednesday brings the conclusion of the first FOMC meeting in 2021. As usual, we’ll get a summary at 2:00 pm EST followed by a press conference with Chairman Powell at 2:30 EST. What will he say, and what should we expect the impact to be on COMEX gold and silver prices?
For the obvious reasons, predicting what the Fed may or may not say and do from meeting to meeting is a fool’s errand. I mean, how am I or anyone else outside of the Fed’s inner circle supposed to know what they’ll do? But they’ve given you some hints, so let’s give it a shot anyway.
To that end, we can look at The Big Picture and begin to formulate some ideas regarding the direction of Fed policy in 2021, and the statements that will follow on Wednesday may begin to foreshadow a timeline for what lies ahead.