Tuesday, September 21, 2010

Fed Says Its Mandate Is to Inflate: Gold and Euro Soar

Todays' FOMC minutes:

The Committee will continue to monitor the economic outlook and financial developments and is prepared to provide additional accommodation if needed to support the economic recovery and to return inflation, over time, to levels consistent with its mandate.

In other words, their mandate is to inflate, thus reducing he vaklue of the currency. That is their goal. As a result, the Euro and gold popped at 2:15PM (charts live from INO).

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