Yellen lays out Federal Reserve’s plans to “normalize” monetary policy- “Normalization” will not necessarily occur immediately
- Fed will use an overnight repo facility as needed during normalization process
- Committee is prepared to adjust its approach if necessary (translation- we’re going to try to pull the punchbowl, but we’ll eventually bring back MOAR QE )
- Gold & silver smash commences on que as gold sent down a mineshaft below support at $1230
Click here for full FOMC statement: