Producers of Metals and Raw Materials Respond to Fed Announcement

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Published: Nov. 1, 2023 at 5:45 p.m. ET

Producers of metals and other raw materials were flat after the Federal Reserve’s announcement

The producers of metals and other raw materials experienced a stagnant response following the Federal Reserve’s decision to keep rates unchanged. However, there was a warning from the Fed about the potential resurgence of inflation due to stronger economic data.

Treasury yields decline as Fed Chairman discusses growth and inflation

Following Fed Chairman Jerome Powell’s commentary on the projected path of growth and inflation, Treasury yields experienced a decline. Although there is a likelihood of another rate hike in the future due to robust economic data and above-target inflation, Powell stated that the central bank has not yet committed to resuming its rate-hike campaign.

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