welcome back to our week update I'm Charlotte McLoud with investing.com and I'm here to give you a quick look at our top stories for the [Music] week the US Federal Reserve was in Focus this week as it met from September 19th to 20th the central bank was widely expected to leave interest rates unchanged from 5.25 to 5.5% and that's exactly what it decided to do at the Gathering in its statement the Central Bank reaffirms its goals of achieving maximum employment and bringing inflation down to


2% as it has in previous months the FED also emphasizes that it will assess various factors as it determines its next steps an update to the Dot Plot which shows where each fed official thinks the federal fund rate is headed shows that the medium projection is 5.6% by the end of 2023 that's in line with June's do plot and indicates that another 25 basis point increase is likely in the cards before the end of the year looking forward to 2024 two cuts of a COR point8 are anticipated that's less than the


four decreases officials were forecasting 3 months ago which some experts believe is a telling change of course while rate decisions are always watched closely Fed chair drill Po's PP speeding comments are often more interesting for Market participants notably he was quick to say a soft economic Landing isn't a baseline scenario responding to reporters has said it's plausable but may be determined by factors outside the fed's control Howell also said the worst thing the FED can do at this point is failed


to restore price stability so what happened to Gold the yellow metal began the Le just below 1910 per ounce but Rose as high as 1946 in the leadup to the FED meeeting once the central bank's decision came out gold retreated back to the 1935 level many of the experts I've been speaking with don't think the gold price will really break out until the fence starts cutting rates with a retreat now looking further into the future it's possible the precious metal will continue to tread water time will


tell leave a comment below if there's anyone you'd like to hear from on gold before we wrap up I want to take a moment to speak about the passing of Nick barisha Nick was a key figure in the precious metals sector for decades and I'm sure many of you will be familiar with his work at BMG group his book $10,000 gold and his frequent expert commentary on channels like this one Nick's enthusiasm for precious medals and his dedication to helping investors was always on display I really


enjoyed our interviews over the years he had such a walk of knowledge and seeing the outpouring of tributes for people across the precious metals industry makes it clear that its absence will be felt by many my thought thought are with Nick's family and the team at BMG group during this Sonic tour that's all for this week if you like this video make sure you subscribe to our Channel we'd also love to hear your thoughts so leave us a comment below we'll see you next [Music] time