Gold price rebounds as Fed Chair Powell explains decision to pause, describes July meeting as 'live' gold Fed Powell
The gold market was flat was Federal Reserve Chair Jerome Powell explained the central bank's decision to pause, elaborating that markets shouldn't refer to it as a skip but warned that more increases would be appropriate.
"At this meeting, considering how fast and high we moved, we judged a pause was appropriate," Powell told reporters Wednesday."I shouldn't call it a skip. [It is the idea] of trying to get this right." Powell also stressed that"nearly all" FOMC participants viewed more rate increases as needed."The decision to pause was only a decision at today's meeting. July meeting will be a live meeting."
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