Foreign exchange documentary platform: the Federal Reserve accidentally eagles paper silver to go more

Beijing time today Monday (May 27) Asian session, ICBC paper silver is currently trading at 7.050 yuan/gram above the line, today opened at 7.059 yuan/gram, as of press time, paper silver prices are temporarily quoted at 7.111 yuan/gram, up 0.74%, the highest hit 7.124 yuan/gram, the lowest down 7.059 yuan/gram, the current situation, paper silver market intraday short-term bias bullish trend.

The Federal Reserve accidentally eagles paper silver to go more

The Fed's latest meeting notes that the mood at the FOMC meeting in May was much more "hawkish" than Mr. Powell's press conference and that better-than-expected US economic data this week had reduced bets on more than one rate cut this year.

While Fed officials described current policy as "well positioned", several mentioned a willingness to tighten further if necessary. Officials are unanimous in their desire to keep interest rates high, with "many" even questioning whether policy is restrictive enough to bring inflation down to target.

Interest rates: Policy is generally restrictive, but high interest rates may have less impact on the economy than in the past. Long-term neutral interest rates are higher than previously thought, so interest rates need to be maintained at current levels for longer.

Inflation and employment: Quarter 1 inflation data is disappointing, it will take longer to have greater confidence that inflation will continue to move towards 2% "; but reduce policy constraints if labor market conditions unexpectedly weaken.

Economy: Efficiency gains and technological innovation can increase productivity growth, allowing the economy to grow faster without raising inflation.

QT: A "minority" of officials support continuing the current pace of balance sheet reduction, or capping the reduction of U.S. debt at a higher level. Slowing the pace of balance sheet reduction will not have an impact on the stance of monetary policy.

A number of Federal Reserve officials also "eagled" in the meeting notes. Mester, the president of the Cleveland Fed, said that she was considering abandoning previous expectations of three interest rate cuts this year, and hoped to see "a few more months of lower inflation data" before the rate cut. Mester said that she raised her forecast for the long-term neutral rate in the latest forecast, and the current level of policy may not be "as tight as expected".

Fed governor Paul Waller said this week that the latest CPI data showed renewed progress on inflation, but a year-end rate cut would require inflation to continue to slow over the next three to five months, and further rate hikes "may not be necessary".

Atlanta Federal Reserve President Bostic said that monetary policy has not been as effective in slowing economic growth as in previous cycles, so it is more necessary to maintain higher interest rates for a long time to contain inflation, perhaps starting to cut interest rates in the fourth quarter. Once the Federal Reserve starts cutting interest rates, he will be reluctant to reverse course because it will bring uncertainty to the economy.

Amid the eagles, the chief executive of Goldman Sachs said he did not expect the Federal Reserve to cut interest rates this year because the US economy had shown greater resilience thanks to government spending and was braced for more severe inflation. This week's economic data did convey that message.

A New York Fed survey in May revealed that concerns about a lack of progress in easing supply constraints in recent months have led many businesses to continue cutting production and raising prices to make up for supply challenges.

US business activity accelerated at the fastest pace in two years, according to S & P Global's composite PMI, reflecting strong growth in service providers and a pick-up in inflation, while initial jobless claims hit their biggest two-week streak since September.

After the release of the data, the market's interest rate cut expectations for the Federal Reserve continued to cool, traders postponed the first interest rate cut from November to December, and the interest rate futures market cut the Fed's full-year interest rate cut bet to 34 basis points.