Tax Reform Uncertainty Keeps Gold Up

It seemed apparent that Janet Yellen is fully aware the Fed is behind the curve on raising interest rates as she applauds herself for saving the economy and creating millions of jobs. She also still seems to believe the Fed is the central bank of the world. The bigger problem is how to make Sens. Elizabeth Warren and Sherrod Brown happy (which is impossible if wealthy people are making money) while keeping President Trump from nominating three of his friends (definitely not Yellen's) to serve on the Fed with her. 

I think the divisive legislative branch, the legislative versus executive branch clashes, and the executive versus judicial branch friction will keep meaningful policy from getting resolved any time soon, and 2% growth will continue to be the norm with inflation creeping higher. This is why the Fed will raise interest rates at least three times before we get close to any kind of tax reform in the U.S. ...363 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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