JACKSON HOLE, Wyo. - The Federal Reserve Board will hold its annual board retreat in Jackson Hole from Thursday to Saturday.
Chairman Ben Bernanke has decided to skip this year's retreat, fueling speculation that his departure is imminent.
Vice chairwoman Janet Yellen is a strong contender to replace Bernanke, but there are also rumors that former Treasury Secretary Larry Summer is also in the running.
Fed watcher and Northstar Investment Fred Taylor spoke to 9NEWS Tuesday morning and provided a sneak preview of the meeting and how Fed policy could change depending on who takes over the chairmanship.
Bernanke had vowed to keep rates low until unemployment dropped below 6.5 percent.
Also, gold was once a hot commodity, but prices of the precious metal have dropped dramatically this year.
Taylor recently provided an update to clients on the declining price of gold, which has fallen primarily because the economy has improved and inflation remains low. Some buyers, however, might be wondering if now is the time to jump on gold since it's considerably lower than it has been in recent years. I've included the update below for your review.
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