Federal Reserve minutes from their January meeting pressed home the fact that officials feel the need to see inflation continue to fall, before committing to lowering interest rates further.
On top of this, members also expressed concerns as we mentioned yesterday around the economic impacts off the back of Donald Trump's tariffs. Last month, The Federal Reserve had decided against reducing rates further, bringing a pause after seeing three consecutive cuts prior.
Earlier this morning, Gold experienced record highs due to safe-haven demand after more comments from Donald Trump in relation to further tariffs. Yesterday Trump stated he would also implement 25% tariffs on all imports of Automobiles, Pharmaceuticals and Semi-Conductor Chips.
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