It's a demand-driven commodity, where the reserve margin on the supply side has shrunk to under 2 million barrels per day.
For example, the controversial Volcker rule remains unfinished, as the SEC has been unable to reach a consensus with the other regulatory bodies involved, including the Federal Reserve and the Commodity Futures Trading Commission.
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Tilting away from CBanks and focusing on reserve currencies, apparently the IMF is considering using the twin commodity currencies of CAD and AUD in its list of reserve currency pairs.
Yet farm values have held up much better than they did in the 1930s or even in the 1980s, when prices fell by around a third in real terms as commodity prices dropped and the Federal Reserve used high interest rates to squeeze inflation out of the system.
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For example independent agencies like the Securities and Exchange Commission, the Commodity Futures Trading Commission and the Federal Reserve get a pass on review.
The working group, which includes representatives of the SEC, the Commodity Futures Trading Commission and the Federal Reserve Bank of New York, came to the same conclusion as Federal Reserve Board Chairman Ben Bernanke, who said in February that more regulation isn't necessarily the answer.
If not QE3, some other type of action to further loosen monetary policy is increasingly expected from the Federal Reserve, said Sterling Smith, commodity trading adviser and market analyst with Country Hedging.
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The rise in the price of gold is being caused by commodity speculation and is a message to the Federal Reserve that monetary policy is on the wrong track.
Turkey provided its commercial banks the option of meeting a portion of their Turkish lira reserve requirements with alternatives, said Erica Rannestad, commodity analyst with CPM Group.
When the Federal Reserve creates inflation, it's first seen in commodity prices.
For the next 18 years, the Federal Reserve loosely followed a de facto price rule by targeting commodity prices including the price of gold and the foreign exchange value of the dollar.
Indeed, without the recent fall in oil and commodity prices, America's inflation rate would have risen, forcing the Federal Reserve to raise interest rates.
Federal Reserve Bank of New York is also reportedly examining JP Morgan's accounting in commodity-related trades.
Commodity markets, including the precious metals, were given a booster shot Monday morning when Federal Reserve Chairman Ben Bernanke ostensibly put another quantitative easing package back on the table.
In particular, by keeping interest rates too low for too long, the Federal Reserve under Ben Bernanke has underpriced credit and increased risk taking, fueling asset bubbles in the bond and commodity markets.
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