April 2021 in Precious Metals, by Steven Cochran
…late in the month, when a raft of better than expected economic news was released. Central Banks FED: Chairman Jerome Powell says that supply chain bottlenecks will cause a temporary spike in inflation as the economy revives, which he says the Fed will ignore. Powell also said he wanted to see actual evidence of a strong economy before he would even consider pulling back from its loose policy stance. The FOMC minutes from the March meeting were released on April 7th. The consensus was that the economic recovery was far from complete. Secretary of the Treasury Janet YELLEN refused to label China as a currency manipulator in the latest report.Both Democrat and Republican administrations are sensitive to the possibility of economic warfare with China, if it was called out on its yuan manipulation. Most Fed officials followed Powell’s lead, until blowout economic numbers were released at the end of the…