Biden officials make last-ditch push for Greenland mining investment
Greenland contains large deposits of most of the minerals considered critical by the US Geological Survey.
The Fed believes commodity prices are off their peaks and probably won’t be picking up anytime soon.
Minutes of the Federal Open Market Committee, which were released today, spelled out several factors contributing against an uptick in commodity prices.
“Most participants anticipated that, with stable inflation expectations, significant slack in labor and product markets, slow wage growth, and little evidence of pricing power among firms, inflation was likely to decline moderately over time. Several suggested that slowing growth in the United States and abroad made a new surge in commodity prices unlikely.”
“The Committee again anticipated that inflation would settle, over coming quarters, at levels at or below those consistent with the Committee’s mandate as the effects of past energy and commodity price increases dissipate further.”
The FOMC remained concerned about the economic outlook, which remained slow, but the data did not suggest a contraction.
“. . . stresses in global financial markets, sluggish growth in households’ real incomes, and heightened uncertainty about economic prospects seemed to have contributed to lower consumer and business sentiment and to be weighing on economic growth.”
Comments
Donx65
How can learned people miss international pricing of commodities? Neither the US or Europe dictates pricing, but rather follow the use of energy for the direction of commodity pricing (hint: China alone is the second largest user of energy).