Spain faces dilemma of what to do with its gold deposited at the US Federal Reserve
Several banks in the eurozone have repatriated or shifted their reserves to strengthen their strategic autonomy amid volatile conditions
BNY Markets strategist John Velis has indicated that a recent strong US jobs report has pushed expectations for a September Federal Reserve rate hike above 60%. Despite Governor Christopher Waller's more cautious comments, the upward trend remains unchanged. Velis anticipates two or three rate hikes over the coming months, potentially pushing policy above the 4% neutral rate, before a decline as inflation eases and the economy slows due to tighter financial conditions.
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- Federal Reserve: Strong jobs and CPI risks – BNY fxstreet.com
