The Empire State manufacturing index released by the New York Federal Reserve showed a reading of (negative)- 7.8 for June, compared with expectations for a positive 12.
FORBES: Weakening Consumer And Manufacturing In U.S. Dishearten Markets
The Federal Reserve reaffirmed last week that real interest rates will remain negative for the long haul.
FORBES: Raising Debt Ceiling Raises Roof For Silver And Gold
Slaughter has found a statistically significant relationship between declining unionization and increasing foreign investment across industries in the U.S. Firm-level analysis by Bruce Fallick of the Federal Reserve Board and our colleague Kevin Hassett also finds a negative relationship between unionization and investment.
This has been a negative for the precious metals because it leads to notions the U.S. Federal Reserve will begin to turn off its monetary policy stimulus spigot that has been turned open wide the past four years.
FORBES: Gold Ends Firmer on More Short Covering, Bargain Hunting, Weaker U.S. Dollar
The New York Federal Reserve's Empire State survey rose to 10.04 in February, compared with a negative 7.78 in January.
The New York Federal Reserve's Empire State survey rose to 10.04 in February, compared with a negative 7.78 in December.
Ultimately, sequester could be a trigger for a stock market set-back and would have an overall negative impact on U.S. economic growth, which will keep the U.S. Federal Reserve on its accommodative path.
FORBES: Technical Trading: Gold Breaks Out of Wedge, But Sequester Looms
Federal Reserve Chairman Ben Bernanke warned of continued strain on the U.S. economy and noted the negative impact of elevated volatility and risk aversion in the financial market during testimony before a joint committee of Congress Tuesday.
FORBES: Bernanke Warns Congress: More Sluggish Job Growth Ahead
And many mortgage lenders have taken on board the Federal Reserve's jawboning, it seems, and have reduced or stopped offering enticing interest-only and negative amortisation loans for fear that their customers will start missing payments when these rise later on.
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