Diamond News Archives
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The Federal Open Market Committee had an unscheduled meeting on October 4. That happens occasionally and they often don’t reveal it occurred until the next regular meeting. That would mean Oct. 30, in this case.
But for some reason (and you can bet they had a reason) they decided to announce this one on Oct. 11.
In between, Fed Chair Jerome Powell said in an Oct. 8 speech that the Fed would soon start growing its balance sheet again.
He characterized the move not as QE, but as a more permanent operation to make sure the Fed has enough reserves to deal with market volatility.
Why Do We Need Nuclear Weapons to Swat Flies?
To be fair, let’s read Powell’s own words, with my emphasis in bold.
In mid-September, an important channel in the transmission process—wholesale funding markets—exhibited unexpectedly intense volatility. Payments to meet corporate tax obligations and to purchase Treasury securities triggered notable liquidity pressures in money markets. Overnight interest rates spiked, and the effective federal funds rate briefly moved above the FOMC's target range. To counter these pressures, we began conducting temporary open market operations. These operations have kept the federal funds rate in the target range and alleviated money market strains more generally.
While a range of factors may have contributed to these developments, it is clear that without a sufficient quantity of reserves in the banking system, even routine increases in funding pressures can lead to outsized movements in money market interest rates. This volatility can impede the effective implementation of monetary policy, and we are addressing it. Indeed, my colleagues and I will soon announce measures to add to the supply of reserves over time. Consistent with a decision we...
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FOMC Press Conference October 30, 2019 - GoldSilver.comGoldSilver Latest News
Has the Fed Lost Its Power to Influence the Economy? [2]
S&P 500 Near All-time High, Hindenburg Omen? [3]
The Political Parties & Media Have Abandoned the Working "Middle Class" [4]
Will Miss Its Inflation Goal: ABN AMRO [5]
When Recession Comes, Expect Central Banks to Rewrite the Rules [6]
U.S. Consumer Comfort Declines By Most In More Than Eight Years [7]
Derivatives' Danger May Have Gotten Too Big for Central Banks: Rickards [8]
People are VERY disappointed in Jay Powell and the Fed: Trump [9]
Dow Erases Post Powell Gains, Bonds & Bullion Surge [10]
Negative Interest Rate Skepticism Grows at the European Central Bank [11]
U.S. Labor Costs Rise in Third Quarter [12]
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James Rickards: The Next Financial Crash is Coming - YouTubeWatch Queue
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James Rickards is a renowned lawyer, economist, and finance expert. Jim is also the author of Currency Wars: The Making of the Next Global Crisis and five other books.
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(IDEX Online) - The World Jewellery Confederation (CIBJO) has produced a special Pearl Commission report ahead of its annual congress in Bahrain next month. This is the eighth in a series of reports prepared for the congress.
The report, prepared by the CIBJO Pearl Commission, headed by Kenneth Scarratt, looks at the growing impact of environmental and conservationist factors on the pearl sector. The report concludes that these factors pose challenges and also opportunities.
The report highlights the Philippines where climate and environmental changes have had a significant effect on pearl production. These relate to greater fluctuations in water temperature, ocean acidification, and the changing of the plankton profile, which has affected the survival rate of certain batches of oysters, as well as the overall growth rate.
"These changes present both challenges and opportunities. Obviously, the main challenge is the lower volume of production that will be available for distribution to the global market. On the other hand, this also serves as an opportunity because, with the lower biomass density, comes the potential to achieve a higher quality output," notes Scarratt.
The report also looks at natural pearls. While rare, they are most commonly a by-product of the seafood industry, and could, therefore, be subject to restrictions imposed by the Convention on International Trade in Endangered Species of Wild Fauna (CITES), as is the case with the Queen conch, off the coast of Mexico....
Download the full CIBJO Pearl Commission special reporthere[1].
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"How Bull Markets End" - Wells Fargo Prepares Clients For Economic Downturn | Zero Hedge