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Fed Officials Disagree Over Inflation, Gold Looks Weak Below 1800
Fed members continued to hit the wires with Bostic saying he’d prefer to complete tapering before raising rates, backing up Powell’s view of prolonged low rates. Yet Bostic and Fed Governor Bowman said separately they agree that the rise in in inflation may last longer than expected. Stronger factory data helped US stocks start the session on a form footing, with the Markit manufacturing PMI rising to 62.6, up from 62.1 prior. Although the services PMI fell to 64.8 from 70.4, ultimately providing the broader equity market with headwinds. House sales also fell to a one-year low as prices continue to rally. The ... (full story)