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A Belfer Center commentary discusses a proposal by Stephen Moore to base monetary policy on a commodity basket or gold. It argues commodity prices respond to real interest rates and that a commodity target would suit only commodity-exporting countries.
The piece is policy commentary with no direct supply or demand change for feed commodities, so its price impact is negligible.
belfercenter.orgJeffrey FrankelMay 1, 2019After 41 past policy events, US Dollar (Broad) moved a median -0.2% over 5 sessions (44% higher; middle half -0.6% to +0.4%), and +0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
