President-elect Joe Biden’s selection of Janet Yellen as Treasury secretary signals that he plans to act aggressively to revive the world’s biggest economy, putting a former Federal Reserve chair who’s not shied away from stimulus at the helm of his economic policy. With Yellen in charge, Biden’s Treasury department will be prepared to join Fed Chairman Jerome Powell’s policy... read more

. “The Fed will stay here and be strongly committed to using all of our tools to support the recovery for as long as it takes until the job is well and truly done,” Powell said in remarks at the Bay Area Council. He said the economy appears to have undergone a faster than expected recovery, but said the pace of improvement has been “slowing,” particularly among low-income workers... read more

Gold held steady in a narrow range on Friday, with optimism over a COVID-19 vaccine countered by market concerns about its rollout as global infections continue to mount. Spot gold were little changed at $1,877.30 per ounce but was down 3.7% for the week, heading for its worst weekly loss since September after the initial vaccine euphoria dented safe-haven investor demand. U.S. gold futures... read more

BRUSSELS (Reuters) - Euro zone industrial production unexpectedly declined in September, driven chiefly by a sharp fall in the output of durable consumer goods, sounding a negative note to a quarter that had begun strongly. The European Union’s statistics office Eurostat said on Thursday that industrial production in the 19 countries sharing the euro fell 0.4% month-on-month in September f... read more

Gold and gold miners are set to benefit no matter who wins the U.S. election this week, one investor told CNBC. That’s because the United States will likely to adopt a sizeable fiscal stimulus program no matter which candidate wins the presidency, James Rasteh, CIO of Coast Capital, told CNBC’s “Squawk Box Asia” on Tuesday. “We would be printing trillions of dollars more and all... read more

Donald Trump is most likely to win re-election, but no matter the outcome of the presidential race, the U.S. could find itself broken into more than one country as unrest and acrimony grip the electorate, noted investor Jeffrey Gundlach said Monday. Speaking on a webcast hosted by Rosenberg Research with its founder, David Rosenberg, Gundlach said he had “far less conviction” about Trump... read more

(Bloomberg) -- The U.S. economy faces “slow going” with no additional fiscal support likely for several months, said former New York Fed President William Dudley. “The outlook for the economy is deteriorating,” Dudley said Wednesday in an interview on Bloomberg Television with Joe Weisenthal, Romaine Bostic and Caroline Hyde. “The most likely scenario is that we continue to have a... read more

Federal Reserve officials continue to push Congress to provide more help to the U.S. economy, and with good reason: The central bank is running out of ways it can help. Since key provisions have expired of the $2.2 trillion CARES Act lifeline that Congress extended in March, the Fed again has been relied on as the economy’s key support system. The Fed has kept policy extraordinarily loose,... read more

Gold is continuing to take its cues from the U.S. dollar as analysts focus more on the fiscal stimulus prospects rather than the election itself, according to Standard Chartered. Even though the macro environment remains very supportive of higher gold prices, the precious metal is stuck at the $1,900 an ounce level, said Standard Chartered precious metals analyst Suki Cooper. “Go... read more

Value investing is suffering its worst run in at least two centuries after the pandemic compounded a decade of struggles for a popular strategy that consists of buying cheap stocks in often unfashionable industries. The approach of favouring bargains — typically judged by comparing a company’s share price to the value of its assets — over faster-expanding but expensive growth stocks ha... read more