Yesterday’s FOMC minutes revealed that policymakers will continue to provide assistance

Yesterday’s FOMC minutes revealed that policymakers will continue to provide assistance to the economy and keep interest rates low. Two central bankers are set to leave the Fed this month while three are poised to join before the next policy meeting. With this change, there could be expectations of uncertainty in the market in respect to the Fed’s future actions. Before the Fed decides to raise rates, they will scrutinize the unemployment rate until the desirable figure is achieved. Raising rates will be dependent upon improving economic data as the prevailing view is that inflation will achieve the 2% objective over the next few years. Initial Jobless Claims for the week ending 5/17 are up 28,000 pulling gold prices higher this morning. Gold is underpinning Platinum prices which jumped to a high of 1497.80 this morning for July delivery. Have a wonderful day.