"The unemployment rate [...] has moved down appreciably since September, reaching 8.3 percent in January."
"The decline in the unemployment rate over the past year has been somewhat more rapid than might have been expected"
"Looking beyond this year, FOMC participants expect the unemployment rate to continue to edge down only slowly toward levels consistent with the Committee's statutory mandate. In light of the somewhat different signals received recently from the labor market than from indicators of final demand and production, however, it will be especially important to evaluate incoming information to assess the underlying pace of economic recovery."
Gold futures (sensitive to monetary policy expectations):
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| Gold futures April 2012 daily chart |
Ok, so Ben Bernanke has been praising the labor market a little and gold traders have taken him seriously.
This might mean less monetary stimulus than expected in the future -I would say it is bearish over the short term for the stock market, but bullish over the longer term.
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