‘Very tight’ labour market may warrant raising rates sooner than expected, Fed minutes show
A salesman displays gold bars in Hyderabad, India. Picture: REUTERS/KRISHNENDU HALDER
Fed officials said the “very tight” US labour market might warrant raising rates sooner than expected, as well as reducing the bank’s overall asset holdings to control inflation, minutes of their December 14 and 15 policy meeting showed. Benchmark US 10-year treasury yields rose to their strongest level since April 2021, increasing the opportunity cost of holding gold.
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