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On January 31st, Federal Reserve Chairman Mohamed Mussala stated on Friday that he was reluctant to support further interest rate cuts given that inflation had consistently remained above the Fed's 2% target. Mussala said he agreed with the Fed's decision this week to keep interest rates unchanged, arguing that the Fed's target rate of 3.5% to 3.75% was no longer high enough to significantly dampen the economy. He believes that persistent price increases should prevent the Fed from lowering rates to support the economy. Mussala stated, "Given that inflation is above target and the risks to the economic outlook are broadly balanced, I don't think it's appropriate to lower interest rates into an accommodative range at this time." Mussala also pointed out that attempting to alleviate labor market pressures by lowering short-term interest rates controlled by the Fed could be counterproductive. He said such a move could trigger concerns about future inflation and push up long-term interest rates, which are a key factor determining mortgage costs and business borrowing costs.

Federal Reserve's Mossalim: Inflation is expected to fall to around 2%, but he believes it may remain above 2% for an extended period. Further rate cuts could exacerbate inflation expectations.

Federal Reserve Chairman Mossalih stated that further rate cuts are not advisable, current policy is neutral, and the economy does not require stimulus. Overall, risks are balanced, and further rate cuts would only be needed if the job market deteriorates or inflation declines.

January 31st - As of 2:30 PM closing, the main Shanghai gold futures contract fell 9.83% to 1079 yuan/gram, the main Shanghai silver futures contract fell 17.00% to 24832 yuan/kilogram, and the main SC crude oil futures contract fell 2.67% to 470 yuan/barrel.

On January 31st, Adam Button, an analyst at the financial website InvestingLive, stated that the precious metals feast is now over, and arguably unprecedented. Regarding gold, he finds it hard to imagine its price falling below $4,000. If it does drop to that level, he believes some well-funded investors will step in, but he won't comment before then. For holders? This is a tricky situation. Market conditions could improve rapidly or become highly volatile, and making panicked decisions on Friday night is unwise. Will we see a further sell-off similar to "Black Monday"? Personally, he believes this is unlikely unless there's some trigger beyond the Iran deal.

In ten minutes, Musalaim, a 2028 FOMC voting member and president of the Federal Reserve Bank of St. Louis, will speak on the U.S. economy and monetary policy.

The total number of oil rigs in the United States for the week ending January 30 was 411, unchanged from the previous week.