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Analyst: US Government Shutdown May Make Fed's Further Rate Cut in December Possible
BlockBeats News, November 11th, Peter Cardillo of Spartan Capital Securities stated that gold futures rose as the end of the U.S. government shutdown is expected to resume the normal pace of government data releases. This may make further interest rate cuts by the Federal Reserve in December possible. "Once the government reopens, the previously unreleased macro data flow may indicate that inflation remains stubborn, and the labor market conditions are weaker than shown in the ADP report." He added: "These two factors may prompt the Federal Reserve to cut interest rates in December, despite their repeated cautious remarks." (FXStreet)
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