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The Federal Reserve’s looser economic policy, which is has been forced to adopt as a result of the global pandemic, will continue to be ultra accommodative it has confirmed which spells a bright future for gold. Loretta Mester, who is the Cleveland Federal Bank president said yesterday that the Feds can’t think of tightening policy or changing their stance while the US economy remains in the COVID doldrums.

Despite bright spots in unemployment data over the last few months, the number of jobless is still eight million people higher than it was pre-pandemic. Mester said that the Fed will continue to purchase bonds and assets and “policy will be accommodative for a while.”

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