Fed Governors Cannot Agree on Whether or Not to Raise Interest Rates

6:10 AM

August 18, 2016 -- The markets responded to yesterday's release of the July FOMC minutes with a collective shrug. U.S. stocks finished slightly higher -- and gold, silver, and the dollar have all been basically flat.

The minutes show Fed governors are deeply divided when it comes to whether or not to raise interest rates from this super low level we see today. Fed governors are all over the place with contradictory remarks.

Meanwhile, more market players are voicing concerns about high valuations in U.S. stocks. Billionaire Carl Icahn made headlines yesterday for comments in an interview with Bloomberg. He's among a group of prominent investors who are increasingly alarmed about dangerously high stock prices compared to earnings -- valuations that are mostly fueled by exceptionally easy monetary policy. Icahn declared that he is hedging more than ever in preparation for what he sees as a "day of reckoning" coming in stocks.

Live prices at MoneyMetals.com show gold currently trading at $1,352.55 per ounce on the global market, and silver is coming in at $19.80.

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