Fed’s Powell explains why a return to the gold standard would be so damaging to the economy

  • “If you assigned us [to] stabilize the dollar price of gold, monetary policy could do that, but the other things would fluctuate, and we wouldn’t care,” Powell says.
  • Though Powell distanced himself from the Fed nomination process, his comments put him at odds with the writings of Judy Shelton, a current nominee to the central bank.
  • Federal Reserve Chairman Jerome Powell told Congress on Wednesday that he doesn’t think a return to the gold standard in the U.S. would be a good idea.

Full article via CNBC here

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LBMA Gold Prices (AM/ PM Fix – USD, GBP & EUR)

10-Jul-19 1395.45 1408.30, 1117.34 1126.78 & 1243.35 1252.68
09-Jul-19 1387.90 1391.55, 1113.51 1115.61 & 1239.39 1241.54
08-Jul-19 1404.90 1400.10, 1121.11 1119.38 & 1251.20 1248.19
05-Jul-19 1414.40 1388.65, 1126.43 1110.92 & 1255.99 1237.70
04-Jul-19 1415.25 1414.90, 1125.41 1125.55 & 1254.19 1254.59
03-Jul-19 1425.10 1413.50, 1133.52 1123.31 & 1262.78 1251.65
02-Jul-19 1393.10 1391.05, 1105.01 1101.02 & 1233.59 1231.77
01-Jul-19 1390.05 1390.10, 1099.81 1099.99 & 1227.41 1227.74


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Mark O'Byrne

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