http://illuminatisilver.comhttp://facebook.com/illuminatisilverFederal Reserve Chairman Janet Yellen defies President-elect Trump
Today is Friday 18th November 2016 and we are commenting upon Janet Yellen’s statements reported yesterday.
The head of the US Federal Reserve, who has been criticised by Mr Trump, warns Congress on the danger of political interference.
America's top Central Banker, Janet Yellen, has delivered a defiant message to President-elect Trump by telling US legislators she fully intends to serve out her term until 2018.
Ms Yellen told a congressional hearing: "I was confirmed by the Senate to a four-year term which ends at the end of January 2018…. It is fully my intention to serve out that term." She added that there had been "terrible economic outcomes in countries where central banks are subject to political pressure".
Meanwhile any uncertainty that is created is positive for precious metals. However having said that, it does appear that we are entering into a higher interest rate environment, and then their prices may indeed take a hit short term.
As we produce this video, gold is down some $10 over the past 24 hours and silver is down 24 cents. We shall of course provide our weekly update tomorrow, where we give not only a summary of this last week’s activity but also our forecast for the remainder of November.
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